Calif. stem cell agency back on track?

Agency won't award two grants, and sells more bonds than expected in first public sale

Andrea Gawrylewski
Oct 3, 2007
The California Institute for Regenerative Medicine (CIRM) today (October 4), entered the second day of its first public bond sale following a strong showing yesterday. Individual investors purchased $68.6 million, or 27.4 %, of the $250 million in bonds that will be issued in the sale and will be used towards stem cell grants for California companies and institutions. Because these numbers were stronger than expected, the sale has been extended for individual investors until 10:30am PST today. After that, the bonds will be available for purchase to large institutional buyers.The strong showing suggests CIRM may finally be getting back on track after delays in grant awards due to litigations over the past three years, according to a CIRM spokesperson and people in the stem cell community. "I think we're a little behind schedule, but not by much," Dale Carlson, spokesperson for CIRM told The Scientist. While about $200...

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