Advanced Cell Technology, Inc. applauds the $3 Billion Stem Cell Research Program, Proposition 71, upheld Monday by a California appeals court. In a unanimous 3-0 ruling judges said Proposition 71 "suffers from no constitutional or other legal infirmity."Â
William M. Caldwell, IV, Chairman and Chief Executive Officer of Advanced Cell Technology, commented, "California's Proposition 71 may be the world's largest single backer of research in stem cells. We believe a capital infusion could dramatically benefit the stem cell industry, and will fund translational programs, designed to enter the clinic in the near term. We are very proud of Governor Schwarzenegger and California's leadership in helping to maintain a competitive environment for commercial research and development in the stem cell field. We are also fortunate to be headquartered in the great state of California as Advanced Cell works to accelerate its stem cell therapies to the bedside."Â
Monday, in a public statement, Governor Schwarzenegger said, "Today's ruling is a victory - I always believed the courts would uphold the will of California voters. Stem cell research holds our best promise to find a cure for debilitating illnesses, like Parkinson's disease and diabetes. I'm also proud of California's leadership - we have already awarded the first round grants to researchers to begin work on this potentially life-saving science."Â
According to the New York Times, Robert N. Klein, chairman of the board overseeing the stem cell program, said the decision was so strong that he thought the California Supreme Court would decline to hear the case if the ruling were appealed and if the Supreme Court turned away the case, the state could being issuing bonds as soon as 120 days from now - Advanced Cell Technology.
Posted March 5th, 2007 by Nymphadora
