Geron Trial

[CAS]

If money was the issue of not proceeding with the trials as stated in the following article
http://cirmresearch.blogspot.com.au/...inal-cord.html
First patient from Geron spinal cord injury trial speaks up

Then why don't they ask for financial help from the communitie at large or others pick up the slack or is the trial likely not to prove anything worth while?

[rjames]

Originally Posted by CAS

If money was the issue of not proceeding with the trials as stated in the following article
http://cirmresearch.blogspot.com.au/...inal-cord.html
First patient from Geron spinal cord injury trial speaks up

Then why don't they ask for financial help from the communitie at large or others pick up the slack or is the trial likely not to prove anything worth while?

I wondered that too.... or why CIRM didn't approve a grant to fund the trial...

[GRAMMY]

Originally Posted by rjames

I wondered that too.... or why CIRM didn't approve a grant to fund the trial...

But Rick, CIRM had authorized a 25M loan to Geron and had paid out 6.42M. Geron returned the money to CIRM.
http://www.cirm.ca.gov/PressRelease_2011-11-14
Maybe you're talking an outright grant that wouldn't need paid back as opposed to the "loan" they'd been given? If that would be the case, I don't think CIRM could have gifted out (grant) taxpayer money to a for profit privately owned biotech company that potentially could have made large profits.

I think it's set up to "grant" for research and "loan" for biotech "launches" if that makes sense.

What is the California Institute for Regenerative Medicine (CIRM)?

The California Institute for Regenerative Medicine (“The Institute” or “CIRM”) is a state agency that was established through the passage of Proposition 71, the California Stem Cell Research and Cures Initiative. The statewide ballot measure, which provided $3 billion in funding for stem cell research at California universities and research institutions, was approved by California voters on November 2, 2004, and called for the establishment of a new state agency to make grants and provide loans for stem cell research, research facilities and other vital research opportunities.

http://www.cirm.ca.gov/cirm-faq

[peterf]

I think that this was a pure Geron business venture when one does not forecast the result /profit as a positive prospect one cuts their losses and bails out.
For years this venture had been pushed and God knows how many postings on this site but when push came to shove Geron ran away.

[dan#3]

talk california stem cells funds into purchasing[ they might sell for cheap] technology and owning the lion share of profits heal people after approval by fda to make money back, we need a deal promoter if its working or can if added study is needed

[KofQ]

Originally Posted by GRAMMY

But Rick, CIRM had authorized a 25M loan to Geron and had paid out 6.42M. Geron returned the money to CIRM.
http://www.cirm.ca.gov/PressRelease_2011-11-14
Maybe you're talking an outright grant that wouldn't need paid back as opposed to the "loan" they'd been given? If that would be the case, I don't think CIRM could have gifted out (grant) taxpayer money to a for profit privately owned biotech company that potentially could have made large profits.

I think it's set up to "grant" for research and "loan" for biotech "launches" if that makes sense.

Didn't CIRM provide a grant to StemCells Inc. just recently, without any guarantee of any result?

http://www.msnbc.msn.com/id/48347667#.UDtreaC63TE

CIRM has got to learn how to structure grant and loan funding. Without milestone payments that affect their livelihood, these people will feel no sense of urgency.

[GRAMMY]

Originally Posted by KofQ

Didn't CIRM provide a grant to StemCells Inc. just recently, without any guarantee of any result?

http://www.msnbc.msn.com/id/48347667#.UDtreaC63TE

Yes, the article states it's pre-clinical work yet.

[KofQ]

Originally Posted by GRAMMY

Yes, the article states it's pre-clinical work yet.

Pre-clinical or not, how is CIRM providing taxpayer funded grants to a for-profit entity, unless they have a stake in any potential profits that may be generated?

[GRAMMY]

http://www.cirm.ca.gov/Grants_Management

The pdf's for CIRM grant management can be found here.

[KofQ]

Originally Posted by GRAMMY

http://www.cirm.ca.gov/Grants_Management

The pdf's for CIRM grant management can be found here.

Thanks. It looks like CIRM gets a piece of the IP should it lead to a commercial product. I am relieved to see that it's not just some giveaway.

9. Sharing of Publication-Related Biomedical Materials
CIRM grantees shall share biomedical materials first created with CIRM funding and described in published scientific articles for research purposes in California as specified in the CIRM Intellectual Property and Revenue Sharing Requirements for For-Profit Organizations (Title 17, California Code of Regulations, section 100404). Annual reporting requirements pertaining to CIRM-funded patented inventions and projects, which may extend 15 years beyond the project period, may be found in Title 17, California Code of Regulations, section 100402