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New Jersey Will Invest $270M in Stem Cell Research

Thursday, December 21, 2006 8:00:00 AM PDT | VentureDeal Staff

TRENTON, NJ  --  Governor John Corzine signed into law a bill that will create $270 million in funding for stem cell research facilities across the state.

The legislation, intended to boost the state's ability to attract researchers and start-up companies, will provide $150 million to build a Stem Cell Institute in New Brunswick, $50 million to build stem cell research facilities at the New Jersey Institute of Technology and $50 million to build a biomedical research center in Camden.

The intent is to create a statewide laboratory of interconnected research and collection centers.  In recent years, California voters approved a $300 million bond to finance stem cell research in that state.

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