“Weaknesses in the scientific merit of the proposal combined with portfolio considerations led to a staff recommendation NOT to fund.“
Tuesday, July 22, 2014
Verastem Bid for Nearly $10 Million from California Nixed
A Massachusetts firm called Verastem, Inc., heard some bad news recently about its pitch for $9.9 million from the $3 billion California stem cell agency.
The Cambridge firm sought the cash from the agency to help out with a clinical trial dealing with breast cancer.
However, the agency’s directors were told in a memo on the CIRM Web site,
By portfolio considerations, the staff seemed to mean that the agency had already awarded funds in the same scientific area.