CGS-authored
Foes who support research worry about industry 'giveaway'
Biotechnology leaders and academics embraced Tuesday's passage of the
$3 billion bond measure to fund stem-cell research, stressing that it will create new collaborations to hasten treatments for Alzheimer's, Parkinson's and other diseases.
But Proposition 71 is still fueling urgent calls for public accountability of the $300 million in annual stem-cell spendng over the next 10 years.
"We support stem-cell research but have concerns this measure is a giveaway to the stem-cell industry," said Marcy Darnovsky, associate executive director of the Center for Genetics and Society in Oakland. "The backers want Californians to hand over the money and then just trust them to do what's right. The stakes are too big for that."
Steven Burrill, life science merchant banker and venture capitalist, scoffed at the idea that the initiative is a bailout or welfare for the industry. Instead, he called it a "big day for patients and Californians."
Burrill said the majority of the money initially will go to research in the academic sector. He noted that the initiative could be a...
Biotechnology leaders and academics embraced Tuesday's passage of the
$3 billion bond measure to fund stem-cell research, stressing that it will create new collaborations to hasten treatments for Alzheimer's, Parkinson's and other diseases.
But Proposition 71 is still fueling urgent calls for public accountability of the $300 million in annual stem-cell spendng over the next 10 years.
"We support stem-cell research but have concerns this measure is a giveaway to the stem-cell industry," said Marcy Darnovsky, associate executive director of the Center for Genetics and Society in Oakland. "The backers want Californians to hand over the money and then just trust them to do what's right. The stakes are too big for that."
Steven Burrill, life science merchant banker and venture capitalist, scoffed at the idea that the initiative is a bailout or welfare for the industry. Instead, he called it a "big day for patients and Californians."
Burrill said the majority of the money initially will go to research in the academic sector. He noted that the initiative could be a...