California To Spend $3 Billion On Stem Cell Research (10/11/2006)
The California Institute for Regenerative Medicine issued its plan for how it would spend the $3 billion
the state's voters assigned to finance stem cell research.
The institute has planned spend $823 million on basic stem cell research, $899 million on preclinical
research and $656 million on furthering treatments through clinical trials.
An additional $273 million is allocated for universities to construct buildings that will be constructed
and contain equipment in which none of the equipment has been bought with money from the National Institutes of Health.
In this way, researchers can be sure of not violating the rules that restrict federal money to research
using government-approved stem cell lines.
Legal problems have tied up the institute's money, but are expected to recified in short order.
The plans also still require approval from the institute's board as well, though they are expected to sign off
on the plan.
Gov. Arnold Schwarzenegger lent the institute $150 million from the state to begin awarding grants, after
President Bush's veto of a federal bill to widen stem cell research.
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