“There is no way to extend anybody’s life with stem cells,” said Sean Morrison, the former president of the International Society for Stem Cell Research. While there are many ongoing clinical trials, he said there’s no convincing evidence yet that stem cells could reverse brain- or heart-related illnesses. For diseases that currently benefit from stem cell treatments, like blood cancers, most people don’t use their own. “There’s no reason to think people would benefit from banking their own stem cells,” he said.
Forever Labs contends that it isn’t promising anything more than possibility. “We’re not trying to claim more than the science,” said Mark Katakowski, the company’s chief science officer. He points to the growing number of clinical trials as evidence of the promise of stem cells. “There’s a lot of potential here. There’s not much downside to banking your own biology.”
Still, despite a lack of viable uses right now, clinics promising results have proliferated across the U.S.
“Dozens of companies come up with claims about how they are able to cure any number of incurable diseases,” Morrison said. “People can make a lot of money with snake oil. With patients who are desperate, there’s a remarkable capacity to suspend disbelief.”
There’s also the potential for injury. After some people went blind, thanks to an unauthorized stem cell procedure to treat macular degeneration, the U.S. Food and Drug Administration moved to block two clinics. (Forever Labs doesn’t do any treatments; it merely stores the cells for later use.)
So far, nobody at Forever Labs has dipped into its three-year-old stem cell bank. Clausnitzer said he expects the first case will be to serve someone who wants their cells to treat a blood cancer.
Still, for companies such as Promanas and MyCrypto, the benefit may already be paying off, regardless of the science. After all, while insurance pays for health care and a 401(k) provides security, a stem cell benefit provides something much more elusive: hope.
“The return on investment on having a great employee who is excited to work for you outweighs everything else,” said Monahan.
This article was provided by Bloomberg News.