Dr Archer also chairs Cambridge University Hospitals NHS Foundation Trust
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Mary Archer is to lead a network of scientists examining developments in stem cell research.
The network paid for by the East of England Development Agency (EEDA) links medical bodies such as Addenbrooke's Hospital with commercial organisations.
Stem cells, found in human tissue, bone marrow and early stage embryos, are regarded as a potential source of cells for regeneration of tissue.
Dr Archer said: "Stem cell research is an exciting area of medical science."
The initiative will be jointly managed by the Cambridge Genetics Knowledge Park (CGKP) and Cambridge Network, one of the region's most successful business networks.
Dr Archer added: "It has great potential to lead to the development of new treatments and therapies for a broad range of diseases.
"The east of England's strength in stem cell research is already apparent from the range of research partners and support organisations that are involved in the network.
"It will also promote the East of England as a leading area for stem cell research and create an environment which encourages investment in further research
"The network will help spread knowledge and encourage greater collaboration between researchers, funding bodies, biotechnology and pharmaceutical companies and regulatory bodies.
"It will also promote the East of England as a leading area for stem cell research and create an environment which encourages investment in further research. "