California’s bond-financed stem cell medical research agency awarded $271 million in grants Wednesday to construct stem cell research facilities.
The California Institute for Regenerative Medicine was created through a 2004 ballot measure that authorized $3 billion of general obligation bonds to promote stem cell research.
The CIRM board’s voted Wednesday to distribute the $271 million to 12 institutions, eight of them University of California campuses.
In a news release, CIRM claimed that the grants would leverage a total of $1.1 billion when factoring commitments from the individual institutions to add their internal reserves, charitable donations, and faculty recruitment packages.
In October, the state treasurer’s office issued its first long-term GOs for the stem cell program, with a $250 million taxable deal.