Regenerative medicine, a field that didn't exist 20 years ago and contains techniques seemingly straight out of science fiction, could be the next big thing in Virginia's biotechnology sector.

That's the opinion of Roy Ogle, an expert in the field who works at Old Dominion University as head of its new school of Medical Diagnostic and Translational Sciences.

So what is regenerative medicine? Simply put, it's the process of re-growing human cells to repair damaged tissues and organs.

In a meeting Thursday hosted by the Virginia Biotechnology Association, Ogle and Brian Pollok, principal of Rapidan BioAdvisors, discussed one of the field's newest developments: induced pluripotent stem cells, or iPSCs.

Let's go back to high school biology: Perhaps you remember embryonic stem cells. These cells can differentiate into different types of cells skin, blood, bone, muscle before a baby is born. But their use in scientific research has become controversial and difficult.

So scientists needed a new way to develop stem cells. iPSCs are already formatted cells that are "induced," or returned, to their original state as a stem cell. Then that stem cell can be reprogrammed to become a different type of cell. For example, a researcher can take a red blood cell, turn it into an iPSC, and then turn that into a muscle cell. (Yeah, our jaw dropped at this point, too). So you get most of the benefits of an embryonic stem cell without the controversy.

What's that mean for the business community?

"Ten or 20 years from now, we could have a way to do cell replacements and make a new spinal cord or new and healthy muscles," Ogle said. "But right now, there are genetic discoveries and methods of development with a giant potential that a small company can sell to (pharmaceutical giants such as) Roche or Sanofi-Aventis."

Ogle said this sort of intermediate work after invention but before the science is proven enough for big pharma to get involved is the perfect space for startups, especially those affiliated with research universities. He said small companies are best placed to do this work and sell the results to big companies because a startup is better suited to tolerate the risk and uncertainty.

"While we think about the long-term development as scientists, there are applications right now where we could serve society and make a lot of money," he said.

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Regenerative medicine could be 'next big thing' for Va. biotech