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by Richard Daverman, PhD
Centient Biotech Investor



Last night, the California $3 billion stem cell initiative awarded $74.5 million in grants to 26 different scientific teams around the state, an average of $2.9 million per grant. The money, which was given to established scientific teams who were already working in the field, will be allocated over four years.

The grant-awarding committee is halfway through a two-day meeting, and it will make additional commitments today. Its goal in the meeting is to award $80 million. To do that, it separated all 70 proposals into three groups: those recommended for funding, proposals that could be funded if sufficient money was available, and the not recommended group. Today, the committee will consider which of the proposals in the second group will get grants.

In February, the Center for Regenerative Medicine (CIRM), as the governing body of the $3 billion initiative is known, made $45 million in SEED grants. They were given to researchers who are new to the field of stem cells. The idea behind the first round of grants was two-fold: to increase the number of researchers in stem cell work and to bring new perspectives to the field.

Typical of the grants for established researchers that were awarded yesterday was one for work spearheaded by Dr. Larry Goldstein of the University of California at San Diego. Goldstein heads the Stem Cell Initiative at UCSD, and he was a member of the group who proposed the state-wide initiative for CIRM. Goldstein’s group was awarded $2.5 million to use human embryonic stem cells to generate human neuronal models of hereditary Alzheimer's disease. The models will be use to test theories about causes and cures for AD.

CIRM began allocating money after it won an appellate court challenge to the initiative that the stem cell funding. It is expected that opponents of the initiative will take the legal battle to the California Supreme Court, but CIRM has been using donations and loans (some from the state and some from philanthropists) to get its programs underway.

The $3 billion bill approved by voters will distribute $300 million per year for 10 years.


Source: CentientInvestor.com



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