Klein: State Controls Stem Cell Funds
Robert Klein, chair of the Independent Citizens' Oversight Committee, on Tuesday testified that the California Institute for Regenerative Medicine is "under the authority and control of the state," the Oakland Tribune reports.
In the second day of a trial to determine the constitutionality of Proposition 71, Klein was the only witness called by the plaintiffs. Proposition 71 will provide $3 billion over 10 years to fund stem cell research (Vesely, Oakland Tribune, 3/1).
Klein testified about the number of meetings he and other CIRM officials have had with state lawmakers, the state treasurer, the state controller and Gov. Arnold Schwarzenegger (R). Klein said those meetings, along with public input, helped direct CIRM policy (Somers, San Diego Union-Tribune, 3/1).
The defense also emphasized that the state treasurer serves as chair of the institute's finance committee and oversees the issuance, investment and pricing of bonds.
The trial is expected to end Thursday (Oakland Tribune, 3/1).
In related news, stem cell research firm Advanced Cell Technology on Tuesday announced it officially has moved its headquarters to Alameda, making it the first stem cell firm in California to relocate operations from out of state, the Oakland Tribune reports.
William Caldwell, CEO of ACT, said he moved the company "from Massachusetts because it allows us to be in an environment that we really believe will be the center or hub of this industry segment for the next 10 years" (Morrill, Oakland Tribune, 3/1).
Caldwell added, "Our business plan does not depend on actual money coming in from Prop. 71. But we hope we can collaborate with some of the research institutions to make progress in areas where we lack resources" (Andrade/Avalos, Contra Costa Times, 2/28).