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Congress shifting medical research dollars
Funds Mutual Vanguard With budget constraints straining Capital Hill, Congress is looking at cancer research cutbacks while strongly supporting a shift in medical dollars to stem cell research.
By Les Chappell • 04 Conjugons offices are located in the MG&E Innovation Center at University Research Park.Madison, Wis. Medical research group ConjuGon announced on Tuesday that they have successfully secured an investment of $1.1 million dollars from angel investors, including the firm Wisconsin Investment Partners. The new funds will be directed to the firms operating costs, as well as financing animal testing of biotheraputic treatments.
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Funds In Investing Mutual September, 2003 (AXcess News) Washinton - Cancer patients and researchers held a rally at Penn State Hershey Medical Center in protest to possible cut backs in cancer research by Congress.
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Fidelity Funds Mutual "Without the research dollars, things like a stem-cell or bone-marrow transplant would not be feasible," said Peggy Grove a cancer survivor who was diagnosed eight years ago.
If Prop 71 passes on election day, it will not only provide for extensive funding of lifesaving stem cell research in California, it will also encourage other states to fund this type of research, will put pressure on the federal government to lift its restrictions on stem cell research, will encourage venture capitalists to fund companies doing this research, and will encourage other countries to fund the research. It will be a major step forward in our quest for longer, healthier lives.
Funds Load Mutual No The House and Senate want to greatly reduce the amount of money going for federal cancer research funding.Tuesday's rally was organized by the American Cancer Society, which is praising Pennsylvania Senator Arlen Specter for cosponsoring a bill to add $1.5 billion in funding for cancer research.
Funds Investment The American Cancer Society said that would allow existing research to expand. Spokesmen for Sen. Rick Santorum and Rep. Tim Holden said both lawmakers are considering that idea.
Funds Retirement While budgeting runs tight on many fronts on Capital Hill, one area destined for increased expenditures is stem cell research. Bill HR 2852 entitled "Cord Blood Stem Cell Act of 2003" was submitted to the US House of Representatives in July.
Funds Trust The purpose of the Bill is to establish a National Cord Blood Stem Cell Bank Network to prepare, store and distribute human umbilical cord blood stem cells for the treatment of patients and to support peer-reviewed research.
Closed End Funds AXcess News had covered the Bill's sumation in early August (See, "U.S. Congress May Approve Stem Cell Bill") after Pluristem Life Systems, Inc. (OTCBB: PLRS) announced the Bill's submission.
Funds Ohio Unclaimed Pluristem developed a platform that can support expansion of hematopoietic stemcells without promoting their differentiation. Basically it can incubate them and increase the quantity available which makes stem cell storage, or banking feasible and economical.The company, which had been featured in
Aim Funds AllPennyStocks.com, had a more detailed description of its developments in a profile which can be found at that site.
College Free Funds Grant Pluristem had recently completed a private placement shortly before announcing the stem cell Bill introduced to Congress which has aided the biotechnology company in its independent efforts to further its scientific research. As recently as August 14, PLRS had announced the appointment of Prof. Jacob Rowe to chair its advisory board. Prof. Rowe is presently Chief of the Department of Hematology and Bone Marrow Transplantation at Rambam Medical Center in Haifa, Israel. Concurrently, he is a Professor of Hemato-Oncology/Bruce Rappaport Faculty of Medicine, at Technion, Israel Institute of Technology in Haifa, Israel. Pluristem is also based in Israel.
Active Funds Index Investor At the time AXcess News had last reported on stem cell research in early August Pluristem's shares were trading at $1.52. PLRS' shares were added to our Stock Guide's 'Best Picks' column at that time in support of its impressive ability to finance its expanding research and the recent Bill's submission to Congress. Since that time Pluristem's shares have slowly drifted down, closing Tuesday September 2nd at $1.14, a 25% drop in price, on volume of 22,000 shares.
Electronic Funds Transfer With the recent pressure on Capital Hill to shave dollars from the national budget, Congress' actions in considering cutbacks in Cancer research is no surprise. The Presidents Council on Bioethics, slated to end come November unless President Bush sees fit to extent its existence, is to much in the fore front and chances of its continuation are likely.
Ci Funds While in the past medical research was supported more by government, today only those areas with the highest likelihood of offering returns are being considered, even more so in an election year when high-profile topics like stem cell research can become fuel for casting for votes.
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