CIRM sells $14 million in BANs to support stem cell research

A committee of CIRM announced that six entities have agreed to purchase $14 million of Bond Anticipation Notes (BANs); CIRM is seeking $50 million.

Litigation challenging the constitutionality of the mechanism set up by Proposition 71 has impeded the State’s ability to sell approved General Obligation bonds. Separately, there is an issue concerning whether or not California can use tax-exempt bonds to fund ventures from whom California will share in patent royalties.

Separately, Zach Hall announced that he had established an Advisory Committee for the drafting of the scientific research strategic plan which includes:

* Zach W. Hall, Ph.D., (Chair), CIRM President and CSO
* Robert Klein, Chair of the ICOC
* Ed Penhoet, Ph.D., Vice-Chair of the ICOC
* Jeff Sheehy, ICOC member, patient advocate
* Sherry Lansing, ICOC member, patient advocate
* Paul Berg, Ph.D., ICOC alternate
* David Baltimore, Ph.D., ICOC member
* William Rastetter, Ph.D., former President and CEO, Biogen-Idec
* George Daley, M.D., Ph.D., Harvard Medical School
* Steve Forman, M.D., City of Hope Hospital.

Of David Baltimore, recall an IPBiz post on March 20 about the possibility of patent fraud in a patent application involving Baltimore and van Perijs. Baltimore does have patent applications in the stem cell area.