Dolly Creator Closes Shop

By AFP

LONDON

The British firm that created the world's first cloned sheep, Dolly, is closing its stem cell business after it failed to find a buyer for it.

    Scottish-based PPL Therapeutics (PPL) said that after a thorough review of the stem cell program, "it has become clear that no value can be extracted ... and it has been agreed that the program should now be closed." The company said it anticipated the decision to close the loss-making business would save it around US$1.1 million per year.

    The news came as the troubled biotechnology company reported that pre-tax losses for the six months ended June had been trimmed to 6.389 million pounds from 7.363 million a year earlier.

    PPL added that discussions with parties interested in buying the other part of its Regenerative Medicine Business-its xenotransplantation program based in Virginia-were ongoing.

    PPL said last month that the division had moved one step closer to producing pigs whose organs and cells could be transplanted into humans without being rejected. AFP