I am not sure I agree that the U.S. will see the real benefit at the end considering how we are doing so far, but I do agree that this is sad news for Australia.
The World Today - Thursday, 4 June , 2009
Reporter: David Mark
PETER CAVE: The scientist who founded Australia's first private stem-cell research laboratory says he's greatly disappointed that the company's work will all go offshore.
Stem Cell Sciences in Melbourne has been shut down by its US parent company. While 15 years' of scientific work will continue in the US and Britain, it's not clear how many staff will also move overseas.
As David Mark reports there's now just one private company doing stem-cell research in Australia, where until recently there were four.
DAVID MARK: In 1994 Dr Peter Mountford set up the first private Australian company doing research purely into stem cells.
Earlier this year he sold his intellectual property to a US company, StemCells Inc. Now comes news the Australian arm of the business will be closed and Dr Peter Mountford isn't happy.
PETER MOUNTFORD: It's a great disappointment to see the outcome of the US grabbing the spoils if you like and they'll see the real benefit which comes closer to the end of the program, more so than we will.
DAVID MARK: The US company's director of investor relations Megan Maloney explains the decision.
MEGAN MALONEY: We had to make this difficult decision in an effort to streamline our operations and reduce overheads. So we certainly recognise and value the considerable scientific progress that Stem Cell Sciences in Australia has achieved over the past few years but determined that the site's location added too much complexity and cost to justify continuing our operations there.
DAVID MARK: The scientific work will continue in the UK and California. The Australian centre's seven scientific staff have been offered relocation packages but it's not clear how many will take up the offer.
Paul Bello is Stem Cell Sciences' acting operations manager.
PAUL BELLO: It's now very much up to the individual person whether they do or do not take up the offer of Stem Cells Incorporated for relocation.
DAVID MARK: What's the mood like Paul Bello? This was one of the first Australian companies to do private stem-cell research. It's now moving offshore. How has that been received by the staff there?
PAUL BELLO: It's hard news. It's sad news. But at the same time the group understands the reasoning behind the decision that Stem Cells Incorporated has made and they're also grateful that their work over whatever time frame has been recognised as valuable and that it will be continued as best possible under the circumstances.
DAVID MARK: What sort of loss is this to the Australian scientific community?
PAUL BELLO: It's certainly true that Stem Cell Sciences was undertaking what we would like to consider cutting-edge stem-cell work with human embryonic stem cells and also adult stem cells and obviously more recently iPS cells (induced pluripotent stem cells).
That work wasn't solely being undertaken by the Melbourne facility here. There are certainly other groups in Australia that are also looking into that and they're quite reputable and quite recognised.
But it is a sad loss that obviously each group has a unique perspective on how to undertake the work and would have advantages in pursuing the type of stem-cell work that we've been doing.
So yes it's a loss, but we certainly hope that the other groups, academic and/or commercial, that are working on stem cells will be able to continue for themselves and also for the benefit of Australia.
DAVID MARK: Until recently there were four private biotech companies doing stem-cell research in Australia. With Stem Cell Sciences going there's now just one left.
Dr Mountford says that it's a sign of the global times. He argues Australia has to target its scientific research more strategically.
PETER MOUNTFORD: Look I think Australia still holds its head very highly in respect to science and research and innovation. And the effort of the Government to invest very strongly in innovation is a great move.
But really investing in innovation is itself not innovative because everybody's doing it. It's no longer new. So it's far more challenging these days to be innovative and we should really be focussing on ways to integrate into the global system so that we can ensure a better return in the future. And that in itself is research, researching how to be innovative and I think that's where we should be directing some of our efforts.
The World Today - Thursday, 4 June , 2009
Reporter: David Mark
PETER CAVE: The scientist who founded Australia's first private stem-cell research laboratory says he's greatly disappointed that the company's work will all go offshore.
Stem Cell Sciences in Melbourne has been shut down by its US parent company. While 15 years' of scientific work will continue in the US and Britain, it's not clear how many staff will also move overseas.
As David Mark reports there's now just one private company doing stem-cell research in Australia, where until recently there were four.
DAVID MARK: In 1994 Dr Peter Mountford set up the first private Australian company doing research purely into stem cells.
Earlier this year he sold his intellectual property to a US company, StemCells Inc. Now comes news the Australian arm of the business will be closed and Dr Peter Mountford isn't happy.
PETER MOUNTFORD: It's a great disappointment to see the outcome of the US grabbing the spoils if you like and they'll see the real benefit which comes closer to the end of the program, more so than we will.
DAVID MARK: The US company's director of investor relations Megan Maloney explains the decision.
MEGAN MALONEY: We had to make this difficult decision in an effort to streamline our operations and reduce overheads. So we certainly recognise and value the considerable scientific progress that Stem Cell Sciences in Australia has achieved over the past few years but determined that the site's location added too much complexity and cost to justify continuing our operations there.
DAVID MARK: The scientific work will continue in the UK and California. The Australian centre's seven scientific staff have been offered relocation packages but it's not clear how many will take up the offer.
Paul Bello is Stem Cell Sciences' acting operations manager.
PAUL BELLO: It's now very much up to the individual person whether they do or do not take up the offer of Stem Cells Incorporated for relocation.
DAVID MARK: What's the mood like Paul Bello? This was one of the first Australian companies to do private stem-cell research. It's now moving offshore. How has that been received by the staff there?
PAUL BELLO: It's hard news. It's sad news. But at the same time the group understands the reasoning behind the decision that Stem Cells Incorporated has made and they're also grateful that their work over whatever time frame has been recognised as valuable and that it will be continued as best possible under the circumstances.
DAVID MARK: What sort of loss is this to the Australian scientific community?
PAUL BELLO: It's certainly true that Stem Cell Sciences was undertaking what we would like to consider cutting-edge stem-cell work with human embryonic stem cells and also adult stem cells and obviously more recently iPS cells (induced pluripotent stem cells).
That work wasn't solely being undertaken by the Melbourne facility here. There are certainly other groups in Australia that are also looking into that and they're quite reputable and quite recognised.
But it is a sad loss that obviously each group has a unique perspective on how to undertake the work and would have advantages in pursuing the type of stem-cell work that we've been doing.
So yes it's a loss, but we certainly hope that the other groups, academic and/or commercial, that are working on stem cells will be able to continue for themselves and also for the benefit of Australia.
DAVID MARK: Until recently there were four private biotech companies doing stem-cell research in Australia. With Stem Cell Sciences going there's now just one left.
Dr Mountford says that it's a sign of the global times. He argues Australia has to target its scientific research more strategically.
PETER MOUNTFORD: Look I think Australia still holds its head very highly in respect to science and research and innovation. And the effort of the Government to invest very strongly in innovation is a great move.
But really investing in innovation is itself not innovative because everybody's doing it. It's no longer new. So it's far more challenging these days to be innovative and we should really be focussing on ways to integrate into the global system so that we can ensure a better return in the future. And that in itself is research, researching how to be innovative and I think that's where we should be directing some of our efforts.