NEW YORK, NY--(Marketwire -04/16/12)- March has shown to be a troublesome month for stem cell stocks. TickerSpy's Stem Cell Stocks Index (RXSTM) has fallen over 16 percent in the last month, in comparison the SPDR S&P Biotech (ETF) has fallen just over 2 percent. A new ruling in Texas could potentially provide new opportunities for the industry. Five Star Equities examines the outlook for companies in the Biotech Industry and provides equity research on Neostem Inc. (NYSE: NBS - News) and Advanced Cell Technology, Inc. (OTC.BB: ACTC.OB - News).
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In Texas they are expected to vote on new rules that would allow doctors in the state to offer experimental treatments involving adult stem cells to patients without FDA approval. The Texas medical board drafted the new rules after Gov. Rick Perry, who appoints all the members of the Medical Board, was treated with his own stem cells to help recover from a back injury. The new proposed rules would allow doctors to avoid the FDA as long as they obtain patient consent and secured approval from an "independent" review board.
"It is my hope that Texas will become the world's leader in the research and use of adult stem cells," Mr. Perry wrote in a July letter to the president of the Texas Medical Board.
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NeoStem, Inc., a leader in the cell therapy industry, is pleased to announce that Jonathan Sackner-Bernstein, MD, FACC joined the firm as Vice President of Clinical Development and Regulatory Affairs. He brings to the Company over 20 years of experience as a clinical cardiologist and medical researcher with leadership in healthcare management. Dr. Sackner-Bernstein will join the team to advance Amorcyte's PreSERVE AMI Phase 2 trial in addition to providing regulatory support for NeoStem's product pipeline.
Advanced Cell Technology, Inc., a leader in the field of regenerative medicine, recently announced that the Bascom Palmer Eye Institute in Miami, Fla., has received institutional review board (IRB) approval as a site for the company's Phase I/II clinical trial for dry age-related macular degeneration (dry AMD), using human embryonic stem cell (hESC)-derived retinal pigment epithelial (RPE) cells.
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- Texas medical board
- adult stem cells
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