The California Institute for Regenerative Medicine could close after awarding all allocated funds, The Scientist reports.
What you should know:
1. CIRM opened in 2004 with $3 billion allocated for grants. The institute planned to give out $300 million annually for a decade; however, a lack of research in the institute's first few years extended the institute's life.
2. CIRM has $88 million in pending grants and $33 million left to be awarded.
3. The institute has been heavily lauded, with researchers attributing the institute's funding to advancing the field of biologics research. UC San Diego stem cell researcher Stephanie Cherqui, PhD, said CRIM helped get biologics research "from the bench to the bedside."
4. CIRM plans to give out its remaining funds by the end of 2019. The institute will then continue to administer multiyear grants through 2022.