A $30 million effort from California’s stem cell research funding agency will dole out awards to help biotech or pharmaceutical companies or venture capital firms take research into early clinical trials.
The program, announced Tuesday, represents the closest collaboration to date between the San Francisco-based California Institute for Regenerative Medicine and the biopharma industry and venture capital.
The three or more Strategic Partnership Awards would provide up to $10 million each. Successful applicants must match those funds, either dollar-for-dollar or by providing in-kind services like manufacturing and product development.
CIRM's vision is to tap the product development expertise of the companies and venture capitalists to move therapies or cures for a wide range of diseases closer to Food and Drug Administration approval.