Hot Biotech Market Neglects Stem Cell Therapies, Says CIRM's Neil Littman

In 2004, California voters approved Prop 71 to fund the field of stem cell research by setting up the California Institute of Regenerative Medicine, or CIRM, with $3 billion. George W. Bush was in the White House at the time, and since 2001, his administration had been limiting research that used embryonic stem cells.