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Evangelina Padilla Vaccaro of Corona is the new face of stem cell science in California. Born with “bubble baby” disease that deprived her of a functioning immune system, she was cured with stem cell therapy developed in Donald Kohn’s lab at UCLA, which has received millions of dollars in grants from the California stem cell program.

Now she’s a vivacious 4-year-old, depicted astride a hobby horse and clad in a pink sweatshirt bearing a lightning bolt on the program’s 2016 annual report under the legend “CURED.” 

“Thank you all for the amazing work you do,” her father told the program board during its Dec. 13 meeting.

Evangelina represents the great potential of the $3-billion state program, formally known as the California Institute for Regenerative Medicine, or CIRM, but also its dilemma as it ponders its next chapter. Established in 2004 by a nearly 60-40 vote for Proposition 71, CIRM began issuing grants in 2006. Now, after 10 years, the program has committed $2.2 billion of its bond-funded war chest. It’s expecting to spend the rest by the end of 2020.

So...