A sector locked in its cell By Jonathan Guthrie, Enterprise Editor

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Stem cells are the fabric of life. Capable of transforming into the new tissue needed to repair damaged bodies, they promise to revolutionise medicine.

The UK has talented stem cell scientists, such as Nobel laureate Sir Martin Evans. It has a relatively permissive approach to controversial research using stem cells from human embryos. So British universities should be expected to spawn a cohort of profitable stem cell spin-offs.

Not so, according to Michael Hunt, chief executive of ReNeuron, a spin-out from King’s College London. “There are too few businesses coming through to create a critical mass. I can’t see that we will have a thriving stem cell sector here,” he says.

In the US, federal disapproval has, until recently, hampered embryonic stem cell research. But in the UK, a lack of venture capital has prevented start-ups from exploiting this advantage.

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