Britain? Stem Cell Leaders? Meet California.

They are running scared in Britain. After months of believing their own press about a purported mass exodus of stem cell researchers, there are some pretty scared venture capitalists now in London. Financial Times' Clive Cookson delivers a eulogy for the era of mass optimism, complete with lots and lots of quotes from folks like Roger Pederson. The UK, by the way, spends just over 25% of the annual amount California has just allocated for stem cell research.