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Board approves CIRM plan

California’s stem cell research funder will move ahead under a new strategic plan after a unanimous vote in favor by its board.

The new approach, laid out in November 2015, charts a course for spending the $900 million that remains of the California Institute for Regenerative Medicine’s original $3 billion budget. CIRM intends to concentrate on projects that will produce drug and device candidates and lead to clinical trials.

President Randall Mills has said he believes the agency will go through the money in about five years. CIRM’s future is unclear; it was created by state voters in 2004, but no mechanism exists for its renewal.

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