The President's Executive Order will now permit the National Institutes of Health (NIH) to fund research using embryonic stem cells.

The Biotechnology Industry Organization, which has been a strong advocate for embryonic stem cell research federal funding, has praised Obama's action. BIO President, Jim Greenwood says his organization fully supports Obama's action.

GREENWOOD: "THE BIOTECHNOLOGY INDUSTRY APPLAUDS PRESIDENT OBAMA'S DECISION TO LIFT THE BAN ON FEDERAL FUNDING OF EMBRYONIC RESEARCH. RESEARCH ON BOTH ADULT AND EMBRYONIC STEM CELLS HOLDS GREAT PROMISE TO PRODUCE NEW THERAPIES AND POSSIBLY CURES FOR THE MILLIONS OF PATIENTS IN THE U.S. AND AROUND THE WORLD SUFFERING FROM CANCER, DIABETES, ALZHEIMER'S, PARKINSON'S, SPINAL CORD INJURIES AND OTHER LIFE-THREATENING DISEASES AND CONDITIONS."

"TO FULLY THIS REALIZE PROMISE, WE NEED THE ADVANCED RESEARCH CAPABILITIES AND PRODUCT DEVELOPMENT EXPERTISE OF BIOTECHNOLOGY COMPANIES. AND FOR BIOTECHNOLOGY COMPANIES TO SUCCEED, WE NEED TO ENSURE THAT WE HAVE PUBLIC POLICIES IN PLACE WHICH ENCOURAGE INNOVATION BY PROTECTING INTELLECTUAL PROPERTY, FULLY FUNDING AND APPROPRIATELY STAFFING THE FOOD AND DRUG ADMINISTRATION, AND PROVIDING ADEQUATE REIMBURSEMENT."

ANNCR: Greenwood says all biotechnology companies are anxious to begin working with the administration and lawmakers to develop public policies that hasten the promise of cures from all bio research, including stem cell research.

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