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| Maria Millan at CIRM board meeting today, following her appointment as new president. CIRM photo by Todd Dubnicoff |
OAKLAND, Ca. -- Maria Millan, who joined the California stem cell agency five years ago, this morning was named as president of the $3 billion enterprise as it moves into what may well be its last three years.
Millan, who was serving as interim president, was unanimously approved by the governing board of the California Institute for Regenerative Medicine (CIRM), as the agency is formally known.
CIRM Chairman Jonathan Thomas said he was enthusiastic about Millan when she was named interim president in June, when Randy Mills left. Thomas said he was "doubly enthusiastic" today and described Millan as the "right person at the right time."
Millan was vice president for therapeutics and her appointment was expected. She will preside over the agency in what some have called the "final stage" of the organization. It has projected it will run out of funds for new awards in mid 2020. The agency is looking at various alternatives for future funding ranging from another bond issue, the agency's current financing, to possible some sort of merger or acquisition.
Millan this morning said the agency had $414 million in uncommitted funds after awarding $2.34 billion.
Millan's salary will be $550,000 retroactive to the beginning of July, when she assumed her new duties.
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