CIRM releases transition plan

The California Institute for Regenerative Medicine (CIRM) released a transition plan outlining ideas for continued funding after the expiration of the $3 billion in original funding authorized by Proposition 71 in 2004.

CIRM has $864 million remaining for new awards. The institute said it plans to make final awards around FY2016-17 and distribute its last funds around FY2020-21. CIRM said it will develop a detailed transition plan for transferring authority for monitoring third party obligations, including repayment of loans, before the final awards are closed. ...