A world-renowned Australian scientist is optimistic stem cell cures are on the way for some of the most dreadful illnesses.
Several promising clinical trials are taking place, says Professor Alan Trounson, who now heads California's multi-billion dollar stem cell agency.
He believes stem-cell cures for inherited blood disorders and HIV/AIDS are close.
"We are three, four, five years away," said Prof Trounson, who made the opening address to a NSW Stem Cell Network conference via video link on Friday.
A correction or cure for type 1 diabetes was almost certain, he told AAP in a telephone interview.
"Therapies are being trialled that are going to change things."
These included therapies for macular degeneration and there was important progress with some forms of cancer, he said.
"There are going to be big changes in the next five years."
He cautioned people against spending money on untested promises of miracle cures.
"Don't be tempted unless a treatment has a solid scientific basis and has approval by a regulatory body in its country."
Professor Bernie Tuch, a diabetes specialist and founder of the NSW Stem Cell Network, emphasised the need to provide patients with realistic hope rather than hype.
He was optimistic a stem cell-based therapy would replace insulin for type 1 diabetes in 10 to 20 years.
Initial trials could happen relatively quickly, but it could take a long time for an approved therapy to be widely used.
Prof Tuch said there was a need to rejuvenate Australia's stem cell industry.
The country was once a world leader in research, but was losing key people and production potential to overseas organisations.
"Australia is the birth place of innovative ideas in stem cell research and therapies and has demonstrated commercial success as the birthplace of the world's biggest stem cell company, Mesoblast," Prof Tuch said.
"We also have some of the most innovative research including success in clinical trials for treatment of a corneal eye disease at University of NSW and for treatment resistant Crohn's disease at the University of Western Australia."
But there were better commercial and investment opportunities abroad, he said.
"A collective effort is needed to push this industry forward."
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