Despite Advances, Regenerative Medicine Faces Funding Crisis

Stem-cell and regenerative medicine firms are scrambling to find business models to harness the field's nascent, rapidly evolving science. Companies deep into clinical trials are still looking for pharma partnerships. Earlier stage biotechs are trying to turn their platforms into research revenue as they look to non-profit, government, and private funding sources to advance their preclinical therapeutic programs. Whatever the model, worries abound that the financial woes of the next couple of years could blunt hard-earned momentum.