California Institute for Regenerative Medicine – Wikipedia …

Coordinates: 374640.65N 1222333.09W / 37.7779583N 122.3925250W / 37.7779583; -122.3925250 The California Institute for Regenerative Medicine (CIRM) was created by California's Proposition 71 (2004), which authorized it to issue $3 billion in grants, funded by bonds, over ten years for embryonic stem cell and other biomedical research. It is claimed[by whom?] to be the world's largest single backer of research in stem cells, though the U.S. Federal government is the largest sponsor of grant money in the world.[citation needed] CIRM awarded its first grants to train 169 stem cell researchers in April 2006. It funded its first research grants, totaling more than $100 million, in the first quarter of 2007.[citation needed]

Implementation was delayed by litigation filed by various organizations, challenging the constitutionality of California Proposition 71 (2004). Constitutional challenges against Proposition 71 came to an end on May 16, 2007 when California Supreme Court declined to review two lower court decisions.[citation needed] In the meantime, CIRM has funded its grants and operations with loans -- $150 million from the California General Fund, authorized by Governor Arnold Schwarzenegger, and $45 million from private philanthropists. On July 21, 2006, Schwarzenegger authorized $150 million in loans to the Institute in an attempt to jump start the process of funding research.[1]

On September 14, 2007, Australian scientist Alan Trounson was appointed president of California's stem cell agency.[2]

In 2009 CIRM issued $67 million in early translational grants to 13 nonprofit organizations as well as two companies, Novocell and BioTime (NYSEMKT:BTX), helmed by Michael D. West, Ph.D., founder of Geron (NASDAQ:GERN).[3]

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