British researchers from the Institute for Science and Society at the University of Nottingham, have questioned whether stem cell therapies can be profitable in the near future. They have identified two serious problems in a recent issue of of the British bioethics newsletter BioNews.

First, small firms find it difficult to make a business out of stem cells. Since most medical developments, historically, have originated in private industry, this is a major concern. After surveying the field, the researchers found a "significant risk of market failure" for a number of therapies. "Unless this situation changes, the industry is likely to rapidly contract and the progress needed to take new therapies into late stage development will be adversely affected."

Second, there are many barriers to adopting innovative therapies: "perhaps the key reason why regenerative medicine has not been taken up is because clinical utility and clinical need have not been designed into first generation cell therapy products to a sufficient extent. This has resulted in invention without adoption."

Curiously, despite all the hype surrounding stem cell therapies, "major institutional and structural barriers will need to be overcome in order to facilitate its adoption, and this will take considerable time and effort."

In short, "it is clear that talk of stem cells revolutionising medicine is misplaced. Successful translation will require sustained public and private investment over many years." ~ BioNews, May 11