Stem Cell Institute Bows to State, Hikes Payback Rules for Grant Recipients
8/20/2007 2:13:36 AM
Silicon Valley / San Jose Business Journal -- Ron Leuty -- Bowing to legislators' demands, California's stem cell institute will require for-profit grant recipients to pay back more money if discoveries using state funds make it to market. Turning away warnings by life sciences industry leaders that increased paybacks could hinder private-sector involvement, the board of the California Institute for Regenerative Medicine voted Aug. 8 to require for-profit CIRM grant award winners to pay the state 25 percent of the revenue they receive from licensing deals.
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