By Donald Zuhn --
On Tuesday, Massachusetts Governor Deval Patrick (at right) outlined his Massachusetts Life Science Strategy, a $1 billion funding initiative intended to spur new medical and science research, strengthen investment and create new jobs in these fields, produce new therapies, and establish a stem cell bank. Governor Patrick unveiled the 10-year plan, which will bring together life science and biotech companies, academic research hospitals, and public and private colleges and universities, during his speech at the 2007 BIO International Convention.
The Life Science Strategy will include a competitive grant program to offset flat federal funding since 2003, which has resulted in a 13% loss in NIH funding power and a 35% reduction in support for clinical trials over that time period. In addition, the initiative will establish the nation's first centralized repository of new stem cell lines, which will be made available to both public and private research entities. Among the institutions lining up to take advantage of the stem cell repository were Boston University, Brigham & Women's, Children's Hospital, Harvard University, Massachusetts General Hospital, the Massachusetts Institute of Technology, Partners HealthCare, and the University of Massachusetts. The plan also will establish research centers - Massachusetts Life Science Innovation Centers - to streamline technology transfer, development time, and funding opportunities.
According to a Boston Herald report, half of the plan's $1 billion price tag would come from current general obligation bonds, while the other half would come from the state's operations budget.
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