Aggregated News
The company conducting the first government-approved tests in people of a therapy developed using human embryonic stem cells abruptly announced Monday that it was halting the study, stunning advocates of the highly contentious field.
Geron Corp. of Menlo Park, Calif., said the move, which stops one of the most controversial and closely watched medical experiments in the history of biomedical research, was the result of a business decision to focus exclusively on developing cancer therapies.
“In the current environment of capital scarcity and uncertain economic conditions, we intend to focus our resources on advancing our . . . two novel and promising oncology drug candidates,” John A. Scarlett, Geron’s chief executive officer, said in a statement. “This would not be possible if we continue to fund the stem cell programs at the current levels.”
The company also announced that it was eliminating 66 full-time positions, representing 38 percent of its workforce.
Another company continues to test a second embryonic stem cell therapy in people. But Geron’s announcement marked a major setback and disappointment, researchers and advocates said.
“While stem cells are...
Geron Corp. of Menlo Park, Calif., said the move, which stops one of the most controversial and closely watched medical experiments in the history of biomedical research, was the result of a business decision to focus exclusively on developing cancer therapies.
“In the current environment of capital scarcity and uncertain economic conditions, we intend to focus our resources on advancing our . . . two novel and promising oncology drug candidates,” John A. Scarlett, Geron’s chief executive officer, said in a statement. “This would not be possible if we continue to fund the stem cell programs at the current levels.”
The company also announced that it was eliminating 66 full-time positions, representing 38 percent of its workforce.
Another company continues to test a second embryonic stem cell therapy in people. But Geron’s announcement marked a major setback and disappointment, researchers and advocates said.
“While stem cells are...