News

Geron Corp. quits stem cell work

The Menlo Park-based biotechnology firm Geron Corp. announced recently that it was abandoning its stem cell research in favor of focusing on two cancer drugs.

The motivation appears financial, according to a statement issued by the company.

"The decision to narrow Geron's technology and therapeutic focus was made after a strategic review of the costs, value inflection timelines and clinical, manufacturing and regulatory complexities," the company said.

As a result, 66 jobs -- 38 percent of its workforce -- will be eliminated, the company said.

The news came as a blow to those hoping to benefit from stem cell therapy, a field that held promise for those paralyzed by spinal cord injuries.

Help sustain the local news you depend on.

Your contribution matters. Become a member today.

Join

Stem cells possess the ability to become any other type of cell in the body, leading Geron's scientists to explore how to grow the cells into replacement neurons that could reverse paralysis.

Stay informed

Get the latest local news and information sent straight to your inbox.

Stay informed

Get the latest local news and information sent straight to your inbox.

Follow AlmanacNews.com and The Almanac on Twitter @almanacnews, Facebook and on Instagram @almanacnews for breaking news, local events, photos, videos and more.

Geron Corp. quits stem cell work

Uploaded: Mon, Nov 21, 2011, 11:27 am

The Menlo Park-based biotechnology firm Geron Corp. announced recently that it was abandoning its stem cell research in favor of focusing on two cancer drugs.

The motivation appears financial, according to a statement issued by the company.

"The decision to narrow Geron's technology and therapeutic focus was made after a strategic review of the costs, value inflection timelines and clinical, manufacturing and regulatory complexities," the company said.

As a result, 66 jobs -- 38 percent of its workforce -- will be eliminated, the company said.

The news came as a blow to those hoping to benefit from stem cell therapy, a field that held promise for those paralyzed by spinal cord injuries.

Stem cells possess the ability to become any other type of cell in the body, leading Geron's scientists to explore how to grow the cells into replacement neurons that could reverse paralysis.

Comments

Post a comment

Sorry, but further commenting on this topic has been closed.