Wednesday, January 20, 2010

Changes Looming in California's Biotech Loan Program

Proposed changes in the $500 million biotech loan program offered by California's stem cell research agency will come before its directors at a meeting early tomorrow morning.

Interested parties can listen in and comment at a variety of locations in California and one at the Charles Hotel in Cambridge, Mass., a state that has a robust biotech community.

CIRM has posted the proposed changes on its website, but the material does not offer an explanation or justification for the revisions. They seem to have grown out of meeting in December of the Loan Task Force and are coming before the directors' Finance Subcommittee at 7:30 a.m.(10:30 a.m. in Massachusetts). The 102-page transcript of the task force meeting can be found here.

In addition to the Charles Hotel, the public can take part in the teleconference session at locations in Palo Alto, Irvine, Menlo Park, San Diego, Pleasanton, Hillsborough, Berkeley and San Francisco. Specific addresses can be found on the agenda.

As for the location within the Charles Hotel, interested parties should call CIRM at 415 396-9117. Presumably one of the directors is staying at the hotel.

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