CIRM: Trounson board appointment creates risk of COI
The California Institute for Regenerative Medicine (CIRM) said it is taking action to avoid "even a potential conflict of interest" after the agency's former President Alan Trounson joined the board of CIRM grantee StemCells Inc. (NASDAQ:STEM). CIRM advised its board members and employees not to communicate with Trounson on any matter involving StemCells and said it will review CIRM activities relating to the company. Trounson stepped down as CIRM president in April but remained an advisor to the agency until June 30. StemCells announced Trounson's appointment on Monday (see BioCentury Extra, April 30).
CIRM awarded StemCells a $19.3 million forgivable loan in 2012 to fund preclinical development of its HuCNS-SC purified human neural stem cells for Alzheimer's disease. The company has received $7.6 million under the 10-year loan so far. ...