Private and venture funds are flowing for at least some areas of stem cell research; successful hybrids of new stem cell technology and old-style drug development pipelines seem to be doing well: "Osiris Therapeutics, Inc. announced that it has closed a $19 million private equity round. The money will fund the company’s five ongoing clinical trial programs using their proprietary adult stem cell technology platform. The round was arranged by Swiss investment firm Friedli Corporate Finance, Inc. In total, the company has raised $70 million in 2005." Elsewhere, Advanced Cell Technology, long the poster child for the detrimental effects of threatened anti-research legislation on private funding, has emerged from the long dry spell in the past year.