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EU Lacks Funds To Drive Stem Cell Research November 25, 2003 WASHINGTON, Nov 25, 2003 (United Press International via COMTEX) -- The European Parliament recently voted in favor of funding embryonic stem cell research, but U.S. venture capitalists tell United Press International even if the measure is adopted by European Union members, it will do little to advance this controversial field. It all comes down to money, the investors say, and neither the union nor the individual member nations possess the vast amount of public and private money it will take to drive the science forward. "It's more the money that will drive things than the legal issues." said Joel Martin of Forward Ventures in San Diego. Many scientists think embryonic stem cells have the potential to lead to cures and treatments for a variety of diseases, ranging from Parkinson's to diabetes. But some groups and politicians object to the research because it requires the destruction of human embryos to obtain the stem cells. The controversy has hampered the progress of the research because some countries have banned the use of embryonic stem cells altogether and others, such as the United States, have placed restrictions on governmental funding. Last week, the European Parliament voted in Strasbourg, France, to allow some of the EU research budget -- which totals about $4 billion per year -- to be used to fund embryonic stem cell research. The motion was non-binding, but it could influence the European Council of Ministers when it meets later this week to consider the provision. Whether or not the council acts -- and at present that appears unlikely -- most venture capitalists say the effect will be minimal. Advancing stem cell science, they say, requires the vast resources of the United States, which currently allots $27 billion annually toward biomedical research via the National Institutes of Health, far exceeding the governmental funding of any other country in the world. Some European nations, including Germany and Austria, already have banned embryonic stem cell research, but the parliament resolution could force these countries to reverse that decision. This may renew interest among academic researchers, but without adequate funding the research climate likely will stay unchanged, experts say. Although scientists think embryonic stem cell research holds great promise, medical treatments remain years off so many venture capitalists at this point are reluctant to invest much money in it. In order for the science to advance, governments must foot the bill for much of the basic research until it reaches the stage where medically beneficial treatments in humans become imminent. At least one EU member, the United Kingdom, has made a commitment to fund embryonic stem cell research, but the United States -- which provides only limited funding -- continues as the leader in the field, said Lutz Geibel, a venture partner with Schroder Ventures, in Foster City, Calif. If the European Union went forward with the research and the United States continued to balk, then European nations might take the lead, said Geibel, the former CEO of CyThera, an embryonic stem cell company in San Diego. "But this is unlikely," he said, because some European countries, such as France, Italy and Portugal, are adamantly opposed to it. "I think the field will be limping along until something really enters the clinic and shows, yes, you can treat Parkinson's, yes, you can treat diabetes," Geibel said. Lacking a firm commitment by the United States, the field will be hamstrung. If the U.S. government supports the research, "more companies and certainly a huge number of academic researchers would get involved and that would make all the difference," he said. According to a report issued last year by the National Science Foundation, the United States spent as much on science and technology research by itself as Canada, France, Germany, Italy, Japan, and the United Kingdom combined. Little of this money will go to embryonic stem cell research, however, because President George W. Bush has banned federal funding for research on new lines of stem cells. This has made some researchers wary about getting involved in this field and severely hampered scientific progress. Not everyone agrees lack of EU funding will hamper embryonic stem cell research efforts on the continent. Linda Powers, managing director of Toucan Capital, a venture capital firm in Bethesda, Md., thinks the repercussions stemming from a EU commitment to support the research may be more important than the amount of funding European nations contribute to the research. There will be a "multiplier effect," Powers said. "This will mobilize private capital in addition to public money that goes into it ... so (venture capitalists) are going to feel like this is a green light and will feel comfortable writing checks," she said. Martin, however, noted even in the private sector, not a lot of money has been invested in Europe. "Venture capital is much stronger here (in the United States)," he said, adding even if the union permits the research, "I don't think that's going to cause a huge change." What will force the U.S. government to commit to embryonic stem cell research is the emergence of cures and treatments for diseases from those activities, said Sean Tipton, spokesman for the Coalition for the Advancement of Medical Research, a patient advocacy group in Washington. If treatments derived from stem cells begin to cure people in clinical studies, "the patients in this country are not going to stand for having those treatments denied to them," Tipton said. "It's a lot easier to say 'no' to a researcher who says 'I want to try this research because I think it may be good,' than it is to deny it to someone with a terrible disease who might get better." -- Steve Mitchell is Medical Correspondent for UPI Science News. E-mail [log in to unmask] By STEVE MITCHELL, United Press International SOURCE: UPI / The Pawtucket Times / ZWire http://tinyurl.com/wlvd * * * ---------------------------------------------------------------------- To sign-off Parkinsn send a message to: mailto:[log in to unmask] In the body of the message put: signoff parkinsn