While California is just embarking on a $3 billion stem cell research effort, New Jersey has already poured hundreds of millions of dollars into the biotech biz in its state. And it is considering pumping another $380 million into stem cell research.
New Jersey's efforts and its difficulties have some obvious implications for California. Reporter Clint Riley of the Record in New Jersey provided some perspective on the situation in the Garden in a couple of articles.
He reported on Sunday: "New Jersey's partnership with biotech is already running into problems. It is cloaked in secrecy and riddled with the potential for conflicts. Its goals are at times nebulous."
On Monday Riley wrote, "Secrecy is important to the biotech industry, in both its business and research incarnations. After all, this is a world where the sole ownership of ideas is the basis of profits. The picture is more complicated on the public side of the biotechnology partnership.
In particular, a closed-door culture poses significant challenges for those concerned about conflicts of interest."
His reports detail examples of where New Jersey's public interests and those of the private sector do not necessarily coincide. He also noted that New Jersey ponied up $500,000 for promotion at the 18,000-attendee BIO 2005 conference mentioned in the item below.
The articles make interesting reading for those following the affairs in California.
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