Friday, November 03, 2006

Klein Says $150 Million Loan Up for Approval Later This Month

California stem cell Chairman Robert Klein has released a statement on Gov. Arnold Schwarzeneger's failure to fulfill – so far – his $150 million promise to bail out the fiscally strapped California stem cell agency.

More than three months ago the governor vowed to provide the money "now." Aides told CIRM that funds would be forthcoming by mid August.

Klein's statement did not explain why the delay has occurred but said a meeting of the CIRM Finance Committee will be held later this month to finalize the loan. Klein said the deal was "extraordinarily complex."

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