CGS-authored

In passing Proposition 71 last month, California voters overwhelmingly entrusted not only their hopes for developing new medical breakthroughs to cure and treat debilitating and life-threatening diseases, but also billions of their hard-earned dollars.

On Dec. 17, the 27-member Independent Citizens Oversight Committee created by Prop. 71 and representing some of our best and brightest medical scientists, administrators, specialists and advocates convened its first meeting to chart the implementation of the California Institute for Regenerative Medicine, the agency the proposition created. The work the ICOC does will be historic; its repercussions will be felt for generations.

Prop. 71 fills a critical void left by misguided federal restrictions. It creates a framework to inspire and challenge the best scientific thinking available, offers immense promise for developing new medical therapies and continues California's role as world leader in the area of biotechnology.

But the initiative falls glaringly short in providing key protections to the public's pocketbook. Although it is largely silent on issues of public accountability and oversight, it does grant the ICOC the authority to enact guidelines to ensure that the...