The governing board of the California state stem cell agency is delaying $58 million in research grants until March because of the economic slowdown and the crisis in the credit markets.
The California Institute for Regenerative Medicine voted last week to support 26 grants pending future financial availability in two rounds of grants going to schools that will train the scientists and laboratory technicians
The governing board chose not to approve immediate funding for the Bridges to Stem Cell Research and Research Training Program II grants due to the State's current inability to sell bonds on the public market. Instead, they voted on the grants they would like to see funded when the financial situation resolves.
CIRM board members said they have enough money on hand to fund previously promised grants through September 2009.
The 11 tentatively approved grants in the Bridges program will provide $17.5 million to building a future stem cell research workforce. These grants fund efforts to engage undergraduate and masters level students in stem cell research. The programs will provide comprehensive lecture and laboratory courses, facilitate internship placement, and advise and mentor students on research progress and career opportunities.
"Training young people is critical to our mission of developing new therapies," said Robert Klein, chairman of the CIRM governing board. "As California's stem cell industry continues to grow the state will face a critical shortage for biomedical laboratory workers trained in state-of-the-art techniques required by stem cell research labs. People who graduate from our Bridges programs will be ready to fill these positions."
The board also approved 15 Research Training Program II awards worth $40.6 million to fund graduate students, postdoctoral scholars and clinical fellows working in stem cell research labs.
CIRM was established in early 2005 with the passage of Proposition 71, the California Stem
Cell Research and Cures Act. The statewide ballot measure provided $3 billion in funding for stem cell research at California universities and research institutions and called for the establishment of an entity to make grants and provide loans for stem cell research, research facilities, and other research opportunities.