CIRM’s 2017 Annual Report will be going live online very soon. In anticipation of that we are highlighting some of the key elements from the report here on the Stem Cellar.
CIRM funds stem cell research. We all know that. What you may not know is that CIRM funds also help bring in additional funding and investments to these projects, and as a result, to the state of California. CIRM’s investment can also be seen as helping validate the credibility of a particular project, taking some of the risk out of investing in it.
We call this second wave of support “Leveraged Funding”. Since we were created in 2004 we have brought in $1.5 billion in Leveraged Funds.
We break that down into three main categories:
- Co-Funding– This is funding that was specifically committed to help co-fund a CIRM project. For example, if we fund a for-profit company to do a Phase 1 clinical trial we expect them to co-fund 30% of the cost of the trial. If it’s a Phase 3 clinical trial the co-funding amount rises to 50%. To date we have received $911 million in co-funding.
- Partnership Funding– Partnership Funding – This is non-CIRM funding committed by partners, not already captured by Co-Funding. For example, our Board’s decision to invest in a project can sometimes be seen as a kind of “Good Housekeeping Seal of Approval” because it shows this project has been reviewed by experts and recommended for funding. Our funding allows investigators to do the early work and get data that helps attract funding from outside investors. These funds can be committed or spent at the same time as CIRM funds or to further the project after the CIRM award expires. Since 2004, we have helped generate $528 million in partnership funding.
- Additional Leverage– This is everything not covered by the first two categories but is mainly non-CIRM funding reported in the “Outcomes Survey”, which the lead investigator on the project completes at the end of the award. This lets us know about any non-CIRM funding they received as a result of their CIRM project (such as money from the National Institutes of Health or other agency grants). More than $395 million in additional leverage funding has been raised because of CIRM.
In 2017, we saw eight projects that we support attract additional support, almost $390 million, from outside investors.
|Disease Area||Industry Partner||2017 Funding|
|1.||Adenosine deaminase-deficient Severe Combined Immunodeficiency||Orchard Therapeutics||$110,000,000|
|2.||X-Linked Chronic Granulomatous Disease||Orchard Therapeutics||Not disclosed|
|3.||Acute Myeloid Leukemia||Forty Seven, Inc.||$75,000,000|
|4.||Pediatrics Genetic Disorder||AVROBIO, Inc.||Not disclosed|
|6.||Chronic Lymphocytic Leukemia||Oncternal, Inc.||$18,400,000|
|7.||Brain Cancer||Mustang Bio, Inc.||$94,500,000|
|8.||Age-related Macular Degeneration||Santen Pharmaceutical||Not disclosed|
Our goal is to do all we can to support the best science and move it out of the lab and into clinical trials in people. Obviously, providing funding is a key step, but it’s far from the only step. For us, it’s really just the first step.
On Wednesday, we’ll profile one of the CIRM-funded researchers whose work is attracting support from outside investors, work that is taking a whole new approach to fighting a deadly brain cancer.