I think Professor Scolding's work is focused on replacing myelin with bone marrow stem cells. This will, it is hoped, save axons from degenerating. For those axons already broken, there is little hope of regenerating them (at this point in time). Here is the view of Professor Compston:
Related to this topic, Professor Compston was asked if axons could be replaced. Axons are the parts of nerve cells, covered in myelin, that carry messages to other nerve cells and which are damaged and/or destroyed by MS. He reported that whilst stem cells can be turned into nerve cells, connecting them together is the difficulty.
Here is a presentation given by Prof Scolding in April:
Professor Neil Scolding
Neil Scolding is Burden Professor and Director of the Institute of Clinical Neurosciences at Frenchay Hospital, University of Bristol. He has a clinical and research interest in the biology of multiple sclerosis and in particular in attempting to develop treatments designed to repair the brain and spinal cord in patients with disability from MS.
Stem cells – the current evidence and issues around such treatments
Stem cell research offers the potential for exciting developments in many areas of medicine, including in the treatment of MS. However, it is not an area without problems. Professor Scolding discussed the ethical issues associated with embryonic stem cell research and the medical hurdles that need to be overcome in producing safe and reliable treatments from adult stem cells. He also discussed the problems associated with press coverage of unproven treatments and how people with MS should explore the issues behind the headlines before seeking treatment. Professor Scolding also described how treatment with stem cells might be beneficial to people with MS and how the work that he and other researchers are doing now may eventually lead to treatments for people with MS.