Southern California Biotech Companies and Research Institutions Support Stem Cell Initiative

27-Aug-2004

BIOCOM, the association representing Southern California's life science community, is announcing its endorsement of Proposition 71, a ballot initiative aimed at supporting the growth of stem cell research in the State.

"The academic research we fund today is the cornerstone of the life-saving therapies we depend on tomorrow," said Joe Panetta, president and CEO of BIOCOM. "The research institutions and academic universities this will support represent the future of healthcare, and this work ensures that that future will happen here in California."

Proposition 71, the California Stem Cell Research and Cures Initiative, would provide $295 million per year over ten years for stem cell research in California. Many researchers and scientists see stem cells as pivotal to a new category of treatments for debilitating and deadly diseases like Alzheimer's, Parkinson's, diabetes, AIDS and cancer.

Currently, government-funded researchers pursuing the most promising embryonic stem cell lines must have two-sets of equipment, one Federally-funded and the other privately-funded, with Federal equipment not to be used for work on these cells.

"Stem cell research needs government funding to help it down the long path from academic science to useful treatments that can help people," said Panetta. "This initiative will help institutions deal with current duplicitous restrictions on their research, and help make California the center of this exciting field."

BIOCOM's support was voted on after a discussion at the quarterly meeting of its Board of Directors, made up of the senior-level leadership of San Diego's life science community.

https://www.bionity.com/en/news/39296/southern-california-biotech-companies-and-research-institutions-support-stem-cell-initiative.html