California Stem Cell Agency, Donors and 12 California Institutions Commit $1.1 Billion to Increase the Capacity for Stem Cell Research in California

The governing board of the California Institute for Regenerative Medicine (CIRM), the state’s stem cell agency, voted today to distribute $271 million to 12 institutions to build stem cell research facilities throughout California. The institutions committed an additional $560 million from charitable donations and their internal reserves, bringing the total statewide investment in new research space to $831 million. This leverage of the state’s stem cell funds was further increased by additional institutional commitments for faculty recruitment packages and other related capital costs. In total, the state funding will have leveraged $1.1 billion in new resources to accelerate the pace toward therapies for patients with chronic and debilitating disease and injury.

Source: CIRM