Stem Cell’s – Business Proposition to be proven

California’s $3 billion effort has just begun (2007) — and this article from the San Jose Mercury News points out that profits are long term, not short term, because:

1. Ethical/moral arguments surrounding stem cell research
2. So little is known, basic research is the first recipient of funds
3. Risky process of developing product keeps investors at bay
4. Two companies, Geron and Advanced Cell, hold many of the patents for human embryonic stem cell research and associated technologies.

However, there are eternal optimists:

“You’ll see more companies forming around embryonic work,” said Gregory Bonfiglio, managing partner of Palo Alto-based Proteus Venture Partners, which plans to invest in such firms. “This technology will fundamentally change health care.”