The $3 billion California stem cell
agency next week is likely to move to pump about 12 percent of its remaining, dwindling cash into business-friendly efforts to develop
commercial therapies.
Coming before the agency's governing
board on March 13 are two “concept” proposals for grant and loan programs
totaling $72 million that are in line with CIRM's drive towards the
marketplace and fulfillment of the promises of the 2004 ballot
campaign that created the agency.
The proposals are coming from the
agency's staff and fit with the strategic direction of the board.
Such proposals have almost never been rejected in the past. But the
board has demonstrated some fiscal concern in recent months as its
uncommitted funds have shrunk to roughly $600 million, according an
estimate presented by agency Chairman Jonathan Thomas in late January. The
agency is scheduled to run out of cash for new awards in 2017.
The largest new proposal before the
board would provide up to $40 million for four or five preclinical
development awards. They would be aimed at development
activities prior to a phase one clinical trial and at helping to
attract future funding. Businesses and non-profits would eligible
with businesses possibly taking a forgivable loan.
The second proposal would provide up to $32 million for possibly three awards in the agency's strategic
partnership program ranging from $10 million to $12 million. The objective
would be completion of a phase one or phase two clinical trial within
three years. Matching funding would be required. Both businesses and
non-profits would be eligible with forgivable loans a possibility for
businesses.
If potential competitors for the
awards are interested in shaping the direction of the proposals, next week's meeting in Burlingame is the time to appear before the board. The next step is posting a request for applications,
scheduled for April and May. Board action on applications would come
early next year.
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