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CODEY ANNOUNCES FUNDING FOR STEM CELL RESEARCH GRANTS
Money Will Also Help Recruit Leading Scientists, Support Clinical Trials
NEWS RELEASE
Acting Governor Richard J. Codey
August 2, 2005
FOR MORE INFORMATION:
Kelley Heck - 609-777-2600
(WEST ORANGE) - Acting Governor Richard J. Codey today announced $10.5 million in state funding to support stem cell research grants, help recruit leading scientists and help set up clinical trials. "New Jersey has always been, and must remain, a leader in medical and stem cell research," Codey said. "Today, we take another step forward. These are real dollars for real projects." Of the $10.5 million for stem cell research in this year's budget, $5.5 million will go toward funding the Stem Cell Institute of New Jersey. The money will help recruit and support leading scientists. It will also help the Institute set up clinical trials so that patients receive the most cutting edge treatments and best possible care.
The remaining $5 million will go toward supporting competitive research grants. Grant applications will undergo a thorough and impartial scientific peer review. An independent ethics review board will ensure the research complies with New Jersey ethics laws regarding stem cell research. Applications will be available this month, and awards are expected to be made by the end of the year. This $10.5 million in funding is part of Codey's larger commitment to stem cell research. The Acting Governor in January unveiled a $380 million stem cell research initiative. As Senate President, he introduced separate bills that would allocate $150 million in unused bond capacity to construct a building to house the Stem Cell Institute and would authorize the Legislature to ask voters to approve a $230 million bond referendum to fund stem cell research grants.
The Acting Governor reinforced his commitment to the $380 million initiative during a news conference at the Kessler Institute for Rehabilitation."By investing in stem cell research we are solidifying New Jersey's place at the forefront of medical technology," Codey said. "We are providing hope to people who suffer. And we are pursuing an opportunity to save lives. I can think of no better investment than that."
Codey was joined by Steven Kirshblum M.D., associate medical director and director of spinal cord injury services at Kessler Institute for Rehabilitation; Don Drakeman, president and CEO of Mederex and chairman of the New Jersey Commission on Science and Technology; Richard Gaskin, a spinal cord injury patient, and Emily Greatrex, who has juvenile diabetes. "Governor Codey has given the Commission an opportunity to help advance New Jersey's position as a leader in scientific research," Drakeman said. "The public should feel confident knowing the Commission on Science and Technology will use the highest standards of science to promote stem cell research in New Jersey."
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Photos and audio and video clips from Acting Governor Codey's public events are available in the Governor's Newsroom section on the State of New Jersey web page, http://www.nj.gov/gov_newsroom.html
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