CIRM Experiences Delays Seeking Interim Financing; San Francisco Headquarters Opens
The California Institute of Regenerative Medicine is seeking interim financing to fund stem cell training programs, but the process is taking longer than expected, the Sacramento Bee reports.
In September, CIRM awarded 16 institutes $39 million in grants over three years, but lawsuits against the agency have delayed state funding.
CIRM Board President Robert Klein said the agency is pursuing the sale of bond anticipation notes to charitable organizations.
CIRM spokesperson Nicole Pagano, said the state is trying to raise $50 million and no more grant applications will be awarded until that money is secured.
An Alameda County judge is expected to hear arguments in the two lawsuits on Nov. 18 and is expected to decide whether to dismiss them at that time. However, both sides have pledged to appeal the decision if the judge rules against them, possibly further delaying the state issuing bonds to fund embryonic stem cell research (Lau, Sacramento Bee, 11/2).
In related news, CIRM headquarters officially opened in San Francisco on Tuesday, the San Francisco Chronicle reports.
Although only about 50 employees will work out of the headquarters, San Francisco Mayor Gavin Newsom (D) said he hopes the opening will encourage biotechnology businesses to locate in the area. "This has created an impetus for companies across this country and around the world ... to consider moving or creating satellite headquarters here in San Francisco," he said.
Employees are expected to move into the headquarters on Nov. 11 (Gordon, San Francisco Chronicle, 11/2).
It "is sobering but not surprising" that a top stem cell researcher at the Johns Hopkins School of Medicine left Maryland to work in California because of state funding for stem cell research under Proposition 71, a Baltimore Sun editorial states. Maryland Gov. Robert Ehrlich (R) and the state Legislature "should aid this fledgling economic sector in a way that works, as speedily as practical," according to the editorial (Baltimore Sun, 11/2).This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.