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California Awards $45M in First Stem Cell Grants

Tuesday, February 20, 2007 7:30:00 AM PDT | VentureDeal Staff

SAN FRANCISCO, CA -- The California Institute for Regenerative Medicine (CIRM) announced grant awards for the first recipients.  CIRM was created by a California voter-approved bond measure that authorized up to $3 billion in research funding for stem cell-oriented research.

The grants totalled about $45 million and were awarded to seventy-two recipients, and ranged between $251,000 and $807,000.

Thirty of the grant recipients were new to the field of stem cell research, reflecting CIRM's desire to fund new thinking and increase the size of the research field.  The fund is operating with a $150 million loan from the state, while opposition lawsuits wind their way through the court system.

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