California Institute for Regenerative Medicine
Coordinates: The California Institute for Regenerative Medicine (CIRM) was created by California's Proposition 71 (2004), which authorized it to issue $3 billion in grants, funded by bonds, over ten years for embryonic stem cell and other biomedical research. It is claimed[by whom?] to be the world's largest single backer of research in stem cells, though the U.S. Federal government is the largest sponsor of grant money in the world. CIRM awarded its first grants to train 169 stem cell researchers in April 2006. It funded its first research grants, totaling more than $100 million, in the first quarter of 2007.
Implementation was delayed by litigation filed by various organizations, challenging the constitutionality of California Proposition 71 (2004). Constitutional challenges against Proposition 71 came to an end on May 16, 2007 when California Supreme Court declined to review two lower court decisions. In the meantime, CIRM has funded its grants and operations with loans -- $150 million from the California General Fund, authorized by Governor Arnold Schwarzenegger, and $45 million from private philanthropists. On July 21, 2006, Schwarzenegger authorized $150 million in loans to the Institute in an attempt to jump start the process of funding research.
In 2009 CIRM issued $67 million in early translational grants to 13 nonprofit organizations as well as two companies, Novocell and BioTime (NYSE MKT: BTX), helmed by Michael D. West, Ph.D., founder of Geron (NASDAQ: GERN).
- Gledhill, Lynda (2006-07-21). "Governor OKs stem cell research funds Schwarzenegger authorizes loans for $150 million". San Francisco Chronicle. p. B–1. Retrieved 2006-07-29.
- Elias, Paul. "Calif. stem cell agency gets new chief", Associated Press, September 15, 2007
- "CIRM Doles Out $67M in Early Translational Grants". Genetic Engineering News. April 30, 2009.