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There are lots of posts out there on this subject.  This is just an excerpt
from one:

Prof Ian Wilmut's decision to turn his back on "therapeutic cloning", just
days after US researchers announced a breakthrough in the cloning of
primates, will send shockwaves through the scientific establishment.
He and his team made headlines around the world in 1997 when they unveiled
Dolly, born July of the year before. But now he has decided not to pursue a
licence to clone human embryos, which he was awarded just two years ago, as
part of a drive to find new treatments for the devastating degenerative
condition, Motor Neuron disease.
Prof Wilmut, who works at Edinburgh University, believes a rival method
pioneered in Japan has better potential for making human embryonic cells
which can be used to grow a patient's own cells and tissues for a vast range
of treatments, from treating strokes to heart attacks and Parkinson's, and
will be less controversial than the Dolly method, known as "nuclear
transfer."
His announcement could mark the beginning of the end for therapeutic
cloning, on which tens of millions of pounds have been spent worldwide over
the past decade.
Cell regession is one of the "alternative methods" that President Bush
recently ordered the NIH to potentially fund, amidst great derision from Big
Biotech and the bioethics establishment. But who is laughing now? Ian
Wilmut, of all people, thinks it--and not cloning--is the wave of the
future.

Rayilyn Brown
Board Member AZNPF
Arizona Chapter National Parkinson's Foundation
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