Friday, July 07, 2006

UC Irvine Looking for CIRM Grant

Leverage is everything. That is one $10 million lesson that a bond fund manager is delivering to the California stem cell agency.

Bill Gross, founder of PIMCO, agreed to donate that much to UC Irvine for its stem cell research program. Two million will go immediately for staff and equipment. But the remaining $8 million is conditioned on matching funds.

A UCI spokesman says the school is looking for a grant from CIRM to achieve that goal.

Here are links to stories on the grant: Los Angeles Times, The Associated Press, Orange County Register. Here is the press release from UC Irvine.

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