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On Monday morning President Obama will sign an executive order overturning the ban on federal funding of embryonic stem cell research. The announcement will be about "restoring scientific integrity to health care policy," an administration official tells wire sources.
In August 2001, George W. Bush signed an executive order prohibiting federal funding on embryonic stem cell research except for a few dozen lines. Then, White House estimated scientists would have more than 60 cell lines to use, but ultimately fewer than two dozen lines were usable, and two times during his tenure as President, Bush vetoed efforts to overturn his ban.
While campaigning, Sen. Obama promised to overturn Bush's ban; Mr. Obama said the ban "handcuffed our scientists and hindered our ability to compete with other nations."
On Jan 29 2009, in a prophetic and vital moment for the most contentious areas of science's intersection with American politics, the U.S. Food and Drug Administration approved a path for the first-ever human trial of a medical treatment derived from embryonic stem cells.
This news from the Obama White House will have a massive impact on the stock market for these corporations with products in the Phase I and Phase II stages, particularly Advanced Cell Technology, the firm that owns 400 of the key patents and has perfected a way of creating stem cells without destroying embryos. Their products include stem cell methods of repairing retinas, pancreases, and heart tissue after heart attacks. ACTC's Dr. Robert Lanza has appeared on Barbara Walters analyzing stem cell frontiers less than a year ago, and is recognized world wide as one of the great pioneers in stem cell research and product development.