The Bahamas is the preferred location for a research initiative that claims it can bring the country “immeasureable” economic benefits by making it a leader in the emerging stem cell research industry, The Tribune has learned.
However, the Bahamas is one of six countries being considered according to Neil Riordan of ITO Laboratories, the company behind the initiative.
Health Minister Dr. Marcus Bethel said that the proposal has not yet been put to him, but stressed that it would have to be reveiwed before being granted permission to operate.
According to ITO’s business proposal, the market for stem cell research and treatment “is potentially enormous” and could bring substantial benefits for the Bahamas.
In July of 2004, the Immuno Augmentative Research (IAT) facility in Grand Bahama was ordered by Minister Bethel to cease its stem cell research programme because it had not met the government’s requirements by applying for a relevant permit.
Mr. Riordan, who also works with IAT, stressed that the new proposal is in no way affiliated with the first programme.
Source: Paco Nunez, The Tribune
