News by DAVID JENSEN posted 08.14.2017 Californias $3 billion stem cell research agency, which is facing its financial demise in a few short years, has formed a team of its directors to tackle transition planning and examine possible alternatives, including ones that would extend its life. The first meeting of the group of directors is tentatively scheduled for Sept. 18.Jonathan Thomas, chairman of the governing board of theCalifornia Institute for Regenerative Medicine(CIRM), as the agency is formally known, said earlier this summer: The legislature has asked that we put together and start thinking about a transition plan, which can contemplate a variety of factors.In response to a question last week, a spokesman for the agency,Kevin McCormack, said that a notice with more details would be posted 10 days prior to the meeting. At a meeting in June, Thomas laid out the need for the transition team. He said all options are on the table including asking the legislature for cash or to place a measure on the ballot for more bond funding. The agencys only real source of money is state bonds, authorized by voters in 2004. It has roughly $600 million left. The agency has projected it will run … Continue reading
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