Washington D.C., Jun 26, 2005 / 22:00 pm
Scientists at a conference on embryonic stem-cell research in California last week admitted that there hasn’t been much progress in the controversial research and that the biotech industry is losing millions of dollars because of it, reported LifeNews.com.
James Thomson, the Wisconsin biologist who was the first to isolate embryonic stem cells, admitted that embryonic stem-cell research was oversold. He said cures from this research may not be available for another 10 or 20 years.
Celgene president Alan Lewis reportedly admitted: “Many of the technologies we hyped to the general public haven't worked yet.”
As well, research investors have stated that they are not eager to fund embryonic stem-cell research because of its limited success so far and the lack of future prospects.