Endless
explorations and ethics One of the most interesting areas of scientific and
technical development is also the most controversial. Mention "stem
cell" and you're just as likely to offend someone or pique their interest.
Never one to shy away from controversy, despite how nerve-wracking it can be,
Swedish Consul General Olle Wastberg hosted an investment seminar on stem cell
research on January 22nd at his residence in New York. He admits he "was a
bit scared in advance" when planning this panel, which is easily
understood--after all, just coordinating the speakers could be a potential
landmine. However, it worked out just fine. Like most attendees I spoke with
afterwards, Olle too felt the discussions were dynamic and demonstrated the
potential for this area to be "very big." Of course, you can't invest
very much in this area as an investor or hedge fund yet since it's in such
early stages of development. But all the panelists thought that in a couple of
years this field has lots of potential. Investors exploring--exploiting--this
area by leaning about it now are setting themselves up to be in a very good
position in a few years. Co-sponsored by the Consulate General of Sweden and
Invest in Sweden Agency with guest sponsors Weatherly Securities and the DuHaan
Groupe, Inc., the panel brought together noted experts from a variety of areas.
Moderated by Business Week's Gene Marcial, MedicaFund general partner Dr. Yuval
Binur, OvaCell Professor Magnus Westgren, Neuronova AB CEO Dr. Anders
Haegerstrand, Pharmacia's Fredrik Henell and a representative from Incara
Pharmaceuticals discussed the possibilities of true development. They have the
tools to do this, but it is a long time before anything will truly happen.
After the two and a half hour conversation to a packed room of about 50
professionals, I chatted with some attendees while wines and hors d'oeuvres
were being passed around. Speakers Anders Haegerstrand and Fredrik Henell were
chatting with attendees Karolinska Innovations AV Business Development director
Thomas Andersson and Endpoint Merchant Group Inc. special limited partner
Robert H. Silin. Spenser Trask Ventures, Inc. managing director Institutional
Private Equity Group Hugh Cullman, Elastic Agency's Magnus Gink and I chatted
about how it seems as if someone could come up with the delivery system for all
this research and development--that's where the money would be. Global Emerging
Technologies president David West Smith told me about his recent skiing trip
out west and Wall Street Newswire's Leif Bergstrom, Pillsbury Winthrop patent
attorney Steve Moore and others mingled and mused about the possibilities and
discussions. For more information: www.swedeninfo.com/biotechstemcells/