The California Institute for Regenerative Medicine (CIRM) was launched last fall amid promises that the $3 billion stem cell research enterprise would generate up to $1 billion in royalties and other revenue for the state. But officials are still resolving questions about how to divvy up such intellectual property (IP) claims.
This week, state Senator Deborah Ortiz (below) asked experts to describe various possible arrangements. One model discussed is that of the International AIDS Vaccine Initiative, in which companies agree to lower treatment costs in exchange for IP rights to any new medicines.
The institute's financing is also in limbo. CIRM officials are trying to raise $55 million in bridge funding pending the resolution of lawsuits that have stalled a bond issue. But tax-free bonds, the preferred route, could jeopardize the state's ability to collect royalties.
Ed Penhoet of the CIRM advisory board says the institute hopes to have an IP policy in place by February.
