SAN FRANCISCO (Reuters) - California Gov. Arnold Schwarzenegger moved on Thursday to provide his state's voter approved stem-cell research institute with a loan of up to $150 million.
The governor's decision came after President George W. Bush vetoed a bill to expand federal funding of embryonic stem-cell research.
The loan will come from California's general fund and will support grants for medical research involving stem cells, which many researchers believe can be used to develop treatments and cures for various diseases, including Alzheimer's disease.
"We anticipate a couple of months at most before the money would go out the door," said H.D. Palmer, a spokesman for California's Department of Finance.
The money will help the California Institute for Regenerative Medicine fund initial research grants.
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stem cell research
Friday, July 21, 2006
California to lend stem-cell center up to $150 mln
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