Wednesday, February 4, 2009
BURLINGAME, Calif.—The governing board of the California stem cell agency is delaying $58 million in research grants at least until March because of the poor economy and credit market.
The money was tentatively approved Friday to train researchers at six San Francisco-area institutions including Stanford University and the University of California campuses at San Francisco and Berkeley.
Voters created the California Institute for Regenerative Medicine in 2004 with $3 billion in borrowing power to promote stem cell research. The institute's board has since awarded nearly $700 million to universities, institutes and research companies.
Board members say they have enough money on hand to fund previously promised grants through September.
More coverage at
SFGate Lengthy report at
Los Angeles Times SOURCE: Associated Press
