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Frohe Ostern
graphikerin
Friday May 20, 4:27 pm ET
Biotech Companies Using Stem Cell Technology Get Boost After Legislative Activity
NEW YORK (AP) -- Biotech companies that use stem cell technologies received a boost Friday after House Republican leaders said they would support a research bill that encouraged harvesting the cells from umbilical cords, in light of a presidential veto threat over a bill calling for the use of embryonic cells.
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Aastrom Biosciences Inc. shares rose 22 cents, or 8.6 percent, to close at $2.88 on the Nasdaq, and StemCells Inc. shares rose 42 cents, or 11.7 percent, to close at $4.
Stem cells are template cells found in bone marrow, embryos and umbilical cords that can be coaxed to grow into different cell types using biochemical signals to replace damaged cells that cause a variety of illnesses.
On Thursday, House Speaker Dennis Hastert, R-Ill., and Majority Leader Tom DeLay, R-Texas, said they would pair language encouraging the harvesting stem cells from umbilical cord blood with legislation calling for a lift of President Bush's 2001 ban on using federal money for research using new embryonic stem cells lines. Bush said Friday he would veto any bill that tried to lift the ban.
One drawback from using umbilical cord blood cells is that they grow into fewer types of tissues than embryonic cells can.
Reps. Mike Castle, R-Del., and Diana DeGette, D-Colo., sponsored the bill that calls for a lift of the ban.
Geron Corp. shares rose 14 cents to close at $7.35 on the Nasdaq, and ViaCell Inc. shares climbed 46 cents, or 7.6 percent, to close at $6.51.
By Althea Chang
TheStreet.com Staff Reporter
9/20/2005 11:53 AM EDT
Shares of a host of stem-cell companies rose Tuesday after researchers disclosed research showing that human cells helped regenerate spinal cord tissue in mice.
Shares of StemCells (STEM:Nasdaq ) were up 18% to $5.82 on close to five times average volume. Aastrom Biosciences (ASTM:Nasdaq) shares lifted 7.3% to $2.50, and Viacell (VIAC:Nasdaq ) shares rose 5.5% to $5.33.
Scientists at the Reeve-Irvine Cancer Center at the University of California at Irvine said they were able to partially repair damaged spinal cord tissue in mice using human neural stem cells.
"This work is a promising first step, and supports the need to study multiple stem-cell types for the possibility of treating of human neurological injury and disease," said researcher Aileen Anderson.
Human neural stem cells helped mouse neurons form protective insulation and became new nerve cells forming connections with the mouse nerve cells, according to trial data.
In comparison with mice that received human cells that were unable to differentiate, those receiving human neural stem cells showed an improved ability to walk. The cells survived and improved walking ability for at least four months after transplantations, researchers said.
Human neural stem cells were provided by StemCells, and two of the company's scientists took part in the study, which was funded by the National Institutes of Health and the Christopher Reeve Foundation.