The market gyrations are … all about the EU and China … so, the question is … where … can I protest …??
Mid-Day: The NASDAQ is UP +11.07 (+0.42%) to 2,625.99. The Dow is UP +65.58 (+0.58%) to 11,462.58.
Mid-Day Movers: BioMimetix (NASDAQ:BMTI), Dendreon (NASDAQ:DNDN), Geron (NASDAQ:GERN), Neostem (AMEX: NBS), Opexa (OPXA), Osiris (osir), Pluristem (NASDAQ:PSTI), ReNeuron (RENE.LON), StemCells (STEM) and ThermoGenesis (NASDAQ:KOOL).
What’s new in the regenerative medicine/stem cell market …
Embryonic Stem-Cell Patents Infringe EU Law: The EU’s highest court (Court of Justice in Luxembourg) said that stem-cell research involving human embryos can’t be patented. The Federal Court of Justice, Germany’s highest civil court, last year asked the EU tribunal for guidance on the case seeking the EU tribunal’s view on how to interpret the phrase “for scientific research involving human embryos” and to clarify the term “human embryo.” http://www.scimitarequity.com/blog/2011/10/18/embryonic-stem-cell-patents-infringe-eu-law. The bottom line, this is a setback for bio-medical research in the area of stem cells. In a decision issued on 1/18/11, the EU Court of Justice inLuxembourg wrote that a process that involves taking a stem cell from a human embryo, resulting in its destruction, cannot be patented. The EU court ruling will have huge repercussions globally, especially in the competition with theUSandAsia, and in scientific research. (The case is: C-34/10, Prof. Dr. Oliver Bruestle v. Greenpeace e. V)
The California stem cell agency, CIRM faces a cash crunch next spring, is scheduled to receive additional funding as the result of a $2B state bond sale this week. The amount will not be known until after the sale is completed on Wednesday. The stem cell funds will come from the taxable bond portion of the sale, which totals $200M. Individual investors can still participate in the bond sales. Earlier this year, the state suspended bond sales, which are the only significant source of CIRM funding, because of the state’s financial crisis. California has the lowest credit rating of any state in the nation. CIRM said it had sufficient funds to operate until June of next year. The bottom line, it is not clear whether the state will continue bond sales after the beginning of the year, when it will face more financial difficulties. Massive, automatic cuts are expected since the state is not meeting its current revenue projections. Reliance on bond funding, however, is expensive, effectively doubling the cost of CIRM research because of interest costs on the borrowed money.
Study: Breast milk stem cells can be turned into other cell types: Australian researchers have discovered that stem cells from breast milk can be cultivated into other cell types, including bone, fat, liver and brain cells. The cells could serve as an alternative to embryonic stem cells. The researchers plan to use the cells in animal transplants in the coming months. http://www.smh.com.au/wa-news/uwa-discovers-ethical-embryoniclike-stem-cells-in-breast-milk-20111017-1lt97.html