WASHINGTON, D.C. (Thursday, July 27, 2011) - The Biotechnology Industry Organization (BIO) praised today’s ruling by a U.S. District Court dismissing a lawsuit that sought to block federal funding of embryonic stem cell research. BIO President and CEO Jim Greenwood issued the following statement:
“BIO lauds today’s ruling by a U.S. District Court allowing the National Institutes of Health (NIH) to continue to fund embryonic stem cell (ESC) research. This ruling provides renewed hope for the millions of patients awaiting the great potential of ESC research to produce cures and breakthrough new medicines.
“BIO has longed believed that research on both adult and embryonic stem cells holds great promise to produce new therapies and possibly cures for the millions of patients in the U.S. and around the world suffering from cancer, diabetes, Alzheimer’s, Parkinson’s, spinal cord injuries and other life-threatening diseases and conditions.
“Funding basic research through NIH is an important step forward but it is only the first step in a very long and complex process to move from the promise of research to the reality of new medicines and cures for patients. We need government policies and a capital formation environment that encourage innovation and allow private companies to turn this basic research into actual medicines and cures. To this end, we will continue to work with the Obama administration and the Congress to pursue strong intellectual property protections, needed reforms and sufficient funding for the U.S. Food and Drug Administration, and adequate reimbursement for biotech medicines and technologies.”