Stem cell prospects dim in NJ

Can a New Jersey initiative that aims to tap Wall Street money reinvigorate the state's once-ambitious plans for stem cell research? The stem cell research community once had high hopes that New Jersey would become the next California or New York. But in November of last year, the state linkurl:voted against;http://www.the-scientist.com/blog/display/53843/ a linkurl:referendum;http://www.the-scientist.com/news/display/53836/ that would have boosted stem cell research funding by $450 million. N

Andrea Gawrylewski
Jul 8, 2008
Can a New Jersey initiative that aims to tap Wall Street money reinvigorate the state's once-ambitious plans for stem cell research? The stem cell research community once had high hopes that New Jersey would become the next California or New York. But in November of last year, the state linkurl:voted against;http://www.the-scientist.com/blog/display/53843/ a linkurl:referendum;http://www.the-scientist.com/news/display/53836/ that would have boosted stem cell research funding by $450 million. New legislation, introduced last month by State Assemblyman Neil Cohen, would establish a pool of research money from Wall Street investment firms that the state could allocate to research institutions in the form of loans. Investors would receive equivalent tax credits for any loans not repaid by the research institutions. Despite this new funding initiative, "New Jersey may miss the opportunity to be one of the pioneers in state stem cell initiatives," linkurl:Ihor Lemischka,;http://www.mountsinai.org/Find%20A%20Faculty/profile.do?id=0000072500003514002971 now director of the Black Family Stem Cell Institute at Mt Sinai...

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