The thing that interests me is that it is umbilical cord stem cells that they were working with and they made an interesting case that they are actually safer than working with embryonic stem cells.

I would say that if you can make this kind of advancements a byproduct of a natural function, something that is routinely thrown away, then that removes a lot of the ethical concerns.

There is only one source of concern that I have. I remember reading an article a few months back about how if this became widespread, we would have trouble getting the amount of umbilical cords that we need because very few doctors and hospitals save them in a usuable format. But if the science became widespread, I could see that being changed quickly.