Patients First Act of 2011 - Amends the Public Health Service Act to require the Secretary of Health and Human Services to conduct and support basic and applied research to develop techniques for the isolation, derivation, production, testing, and human clinical use of stem cells that may result in improved understanding of, or treatments for, diseases and other adverse health conditions, including pluripotent stem cells that have the flexibility of embryonic stem cells (whether or not such pluripotent stem cells have an embryonic source), provided that such techniques will not involve: (1) the creation of a human embryo for research purposes; (2) the destruction or discarding of, or risk of injury to, a living human embryo; or (3) the use of any stem cell the derivation or provision of which would be inconsistent with this Act.
Requires the Secretary to issue guidelines implementing this Act to ensure that any research (including any clinical trial) supported under this Act: (1) is clearly consistent with the standards established in this Act, if conducted using human cells; and (2) is prioritized in terms of potential for near-term clinical benefit in human patients.
Requires the Secretary to report on peer reviewed stem cell research proposals that were not funded.