Abstract
Stem cell science and technologies are being pursued by the National Institutes of Health (NIH), other government research agencies and also in the private sector. In the last 5 years, stem cells have emerged from condign obscurity to remarkable levels of prominence in both scientific literature and the lay consciousness. Fewer than 30 biotechnology startup firms in 11 countries are pursuing commercial development of stem cell technology and therapeutic cloning. These firms employ 950–1000 scientists and support staff, and spend about $200 million on research and development each year. The field has the look and feel of a high-tech cottage industry, with close to half the startups employing less than 15 full-time equivalents (FTEs). Funding is mostly from venture capitalists and private investors. Focus is slightly weighted toward adult stem cells as compared to embryonic stem cells. Taken as a whole, both the structure and scope of private sector activity in stem cells seem appropriate to the promise and development time-frames of this important new technology. The potential therapeutic applications of stem cells span virtually every facet of regenerative medicine. Scientists have hailed them as the key to future cures for neurodegenerative diseases, diabetes, heart failure, and countless other disorders.
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