Update: Californians pass Proposition 14, authorizing $5.5 billion in state bonds for stem cell and other medical research.
The California Institute for Regenerative Medicine (CIRM) was originally established in 2004 via Proposition 71 and is nearly out of funding to continue.
Proposition 14, officially known as the California Stem Cell Research, Treatments, and Cures Initiative of 2020, aims to provide $5.5 billion in bond funding for the California Institute for Regenerative Medicine (California’s stem cell research institute). The measure, proponents claim, will allow researchers to continue working on developing important therapies and cures for a slew of devastating diseases and injuries, including cancer, diabetes, spinal cord injury, Alzheimer’s, Parkinson’s, to name a few.
Prop 14 was led by Californians for Stem Cell Research, Treatments and Cures, and is backed by high-profile scientists, 80 patient advocacy organizations, and California Governor Newsom (D). These supporters claim the initiative measure will reinforce California’s position as a world leader in the development of stem cell treatments and cures for patients. Since 2004, Prop 71 helped fund blood and bone-marrow cancer treatments that have been approved by the FDA, and supported promising advances in the treatment of disorders such as diabetes and retinitis pigmentosa. Cutting off important funding could possibly jeopardize future advancements and jeopardize California’s position as a leader in the stem cell field.
Opponents argue voters should reject the measure, with arguments including CIRM is not overseen by the governor and Legislature like other state agencies. In addition to transparency, detractors claim the 29 member governing board is too large and carry ties to institutions and organizations that have received most of the initial $3 billion provided by Proposition 71. Some are also unimpressed with the financial payback and small number of human trial successes. They also point to an estimate from the nonpartisan state Legislative Analyst’s Office that Proposition 14 will cost the State of California roughly $7.8 billion over roughly 30 years. “We’re socializing the risk of drug development and privatizing the gains,” said Ameet Sarpatwari, a professor of medicine at Harvard Medical School who studies drug development.
“You can’t rush this kind of work,” said Kevin McCormack, CIRM’s senior director of public communications. Ultimately, it will be up to Californian voters on November 3rd to provide more time by passing Proposition 14.