Those timid souls known as venture capitalists are not likely to be encouraged by the events in Korea, and that is likely to reflect poorly on the stem cell investment climate in California, at least for the short term.
Some, however, might argue that it is a buying opportunity – prices are down because of temporary market indigestion in swallowing the bad news out of Asia.
In the past few days the news has not been good for those holding Korean biotechnology investments. According to Reuters, prices in Korean biotech stocks "plunged" on Friday, one company by 15 percent.
The market reaction is another reason why private capital is not interested in funding the type of research that the California stem cell agency would if it were not snarled in a lawsuit.
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