Golden State is Great for Stem Cell and Gene Therapy Research, Says BIOCom California Chief Panetta.

'We don’t have to worry about the money'

Hybrid online CIRM board meeting December 2023, Chair Vito Imbasciani at right, board member George Blumenthal left. CIRM is budgeted to spend $252 million this fiscal year on clinical-stage programs. California Stem Cell Report photo

California’s $12 billion stem cell and gene research organization received some favorable national attention last week, albeit in an industry publication that is not widely read in such places as Yuba City whose citizens are helping to finance the program.

The media outlet was Genetic Engineering & Biotechnology News (GEN Edge), which says it has 330,000 “engaged website visitors.” The article in question was a Q&A with Joe Panetta, the head of BIOCOM California, an industry organization, and a member of the stem cell agency governing board. 

The agency, officially known as the California Institute for Regenerative Medicine (CIRM), rarely receives significant national attention even within biotech media. In this case, it stemmed from the connection with Panetta, his organization and its activities. 

The topic of the stem cell agency came up as Panetta made the case for California as a bastion of biotech during the Q&A with GEN Edge.

“Where we’re fortunate is that we’ve got an organization like CIRM that we’ve invested another $5.5 billion in that doesn’t exist anywhere else in the world,”