California stem cell funding gets legal OK

The Supreme Court of the US State of California has effectively authorized funding of stem cell research by the state government, which means that plans for the California Institute of Regenerative Medicine to issue $250.0 million in bonds can now go ahead.

Opponents had hoped to demonstrate that the funding, approved by a November 2004 popular referendum in the state, was unconstitutional under California law. Proposition 71 was carried with 59% support.

Robert Klein, the CIRM's governing committee chairman, told the San Francisco Chronicle that the first $250.0 million bond issue would take place by the end of August and would mostly reimburse state and private donor loans which supported the Institute during the legal dispute. A further bond issue could bring the research center's total borrowing to $300.0 million by the end of year.