Yet many critics say that Klein and CIRM have failed to fully deliver. Despite promises that money borrowed from the state — at least $6 billion over ten years, when interest is factored in — would be returned through commercial spin-offs and savings to health care, the first marketable therapies have yet to materialize. Only two CIRM-funded projects have made it to early-stage clinical trials, and neither of these involves embryonic stem cells — the main impetus for launching the agency in the first place. The embryonic stem-cell clinical trials that have recently been approved in the United States are the product of privately funded research.
A comment to californiastemcellreport on 7 Dec. 2010:
Note the coverage in Nature of the situation at CIRM:
Stem cells: The impatient advocate [ Nature 468, 620-623 (2010) ]
Of the CIRM requirement -- a direct knowledge of bond financing. --, note the rather sad misunderstanding by CIRM of requirements for tax-exempt bonds, a mistake which cost California taxpayers quite a bit of money.
This is part of continued misunderstanding by CIRM of the role of intellectual property in a state-financed research venture, a matter which has also cost California taxpayers a bit of money.
**As noted of the Washington Redskins in the Haynesworth matter, what was CIRM thinking?
The [Scott] contract in retrospect is quite friendly, considering the signing the Washington Redskins made for DT Albert Haynesworth, signing him at 7-years for $100 million. What was Washington thinking? Haynesworth has had two good seasons (one of which being during a contract year), and he’s the same man who stomped on the face of an opponent in 2006.