Actor Michael J. Fox, Parkinson's sufferer and advocate for higher visibility and more funds to slay the disease, used November's
Congressional elections to place the stem cell research squarely in the public eye.
He also stirred up quite a bit of political dust in doing so.
Obviously, my heart goes out to Mr. Fox, who is displaying a great deal of courage in going public with his condition and
in personalizing the disease to reveal its insidiousness. But when you make Parkinson's—or any disease—a political cause, some facts make it to the light of day and some don't. Wall Street may be bloodless, and
may aim to keep emotion out of big investment decisions, but it will unearth all of the facts before traders step up to the
plate and invest their money. And without the facts, you have more trouble than Madonna at an African orphanage.
So what's the real skinny on stem cell research? What we know is that embryonic stem cells could be the key to curing paralysis
and brain damage. We also know that Christian and conservative groups disapprove of embryonic stem cells because they are
harvested from human embryos. And we also know that, so far, embryonic stem cells aren't the answer to diseases like Parkinson's
that advocates would have us believe. In fact, there is little or no scientific evidence that embryonic stem cells fight diseases
any more effectively than four-leaf clovers or eye of newt.
As Wesley J. Smith writes in the August 6, 2006 edition of The Weekly Standard, "While there have certainly been successes in embryonic stem cell experiments in animal studies—many of them hyped to the
hilt in mainstream media reports—the numbers pale in comparison with the many research advances being made with adult and
umbilical cord blood stem cells, which are already being used in human patients."
Based on the published science, there are 72 maladies for which human patients have received some benefit (which is not the
same as being "cured") from adult stem cell or umbilical cord blood interventions. Meanwhile, embryonic stem cells have yet
to demonstrate any human therapeutic use.
So, if we take the traditional route we take in these columns and follow the money, what do we find?
Adult stem cells, donated by grown men and women, do work against disease. They are way ahead of their embryonic offshoots
in effective products on the market.
Investors don't waste precious financial resources on technologies that offer little or no potential. Hence, there is no stampede
toward public companies engaged in embryonic stem cell research (it's only fair to mention that much of the research in embryonic
stem cells is being done in nonprofit venues, like universities).
Conversely, there is plenty of evidence that investors are warming up to adult stem cell research. Adult stem cell stocks
are light years ahead of embryonic stem cell companies in terms of stock trading activity. Adult stem cell companies like
Osiris, Cytori, and Aastrom are attracting big investment money, most notably because adult stem cell research has demonstrated
that the technology can work against myriad diseases, and that adult stem cell firms aren't shackled by the political debate
over embryonic stem cell companies.
Let's look at Osiris. That company, based in Baltimore, MD, recently garnered $38 million in an initial public offering. Investors
are buzzing over Osiris because it is one of the few companies that actually has a stem cell product out on the marketplace.
The company's Osteocel helps trigger growth in damaged bones. The firm has a second product, Prochymal, which Osiris says
may be the cure for a fatal malady known as Acute Graft versus Host Disease. I never heard of it either until I ran into Osiris,
but the benefits of Prochymal may be bigger than some might think. It turn out that Acute Graft versus Host disease afflicts
about 50% of all patients who receive a bone marrow transplant for anemia and other diseases, and attacks the gastrointestinal
tract, skin, and liver. Prochymal also is in Phase 2 clinical trials as a treatment for Crohns disease.