New Jersey, home to scores of top drug companies, plans to spend $380 million on stem cell research to stay in the forefront of the politically sensitive field, its acting governor said on Tuesday. Richard Codey told the state Assembly that New Jersey will spend $150 million to build the Stem Cell Institute of New Jersey, whose founding was announced last May. Voters in November will be asked to approve a bond issue of $230 million to pay for its operation. The state already has set aside $9.5 million in public funds for the institute to be built in New Brunswick. The commitments make New Jersey the second biggest public backer of stem cell research after California, where voters last year approved a $3 billion bond issue to fund research.
