Thursday, July 25, 2013
California Stem Cell Agency Has $577 Million Remaining for New Research Awards Out of $3 Billion
The figure was reported by CIRM staff this morning as part of its regular briefing on the financial status of the research effort, which began work in 2004 with $3 billion that the state is borrowing through issuance of state bonds. The method of funding will cost roughly $3 billion more in interest costs.
The agency expects to run out of funds for new grants late in 2017 and is considering ways to raise cash for future operations..