$1B Mass biotech subsidy deal nears

A 10-year $1.0 billion program to subsidize biotechnology and stem cell R&D in the US state of Massachusetts was close to final approval as the Marketletter was going to press. The State House of Representatives approved the package with support from a majority of both Democrats and Republicans, by 138 votes to 17 on June 11.

The State Senate was expected to endorse the legislation the following day and Governor Deval Patrick (Democrat) said he hopes to sign the proposal into law on June 16, before he attends the Biotechnology Industry Organization's International Convention in San Diego, California, the following day.

Gov Patrick will be accompanied by several leading political figures from the northeastern US state, as well as the president-elect of the Massachusetts Life Science Center, Susan Windham-Bannister. The Governor, who took office in January 2007 from Mitt Romney, the Republican who ran for President this year, was able to overcome any doubts that could have been caused by the perceived slow pace of a similar publicly-funded research scheme in California, (Marketletter March 3).