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Tuesday, May 24, 2005

Heritage Panel Doubts Returns on Embryonic Stem Cell Investments

The Heritage Foundation hosted a panel discussion May 10 in Washington, D.C., “Stem Cell Research: What Taxpayers Must Know,” to raise and discuss the issues embedded in our current national debate on stem cell research, not just ethical and religious views, but practical and scientific issues as well. The truffle quote comes from Dave Weldon, Florida congressman and physician, who is in turn quoting embryonic stem cell advocate William Haseltine, CEO of Human Genome Sciences, Inc., of Rockville, Maryland:
The routine utilization of human embryonic stem cells for medicine is 20 to 30 years hence. The timeline to commercialization is so long that I simply would not invest. You may notice that our company has not made such investments.

Weldon continues himself:

And what's going on in California with the taxpayers funding embryonic stem cell research is that the taxpayers are funding what the venture capitalists will not fund. And that's exactly what's going on in this city: People are trying to get the federal taxpayers to fund what the venture capitalists will not fund. (emphasis added)

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