StemCells, Inc., Rejects $20 Million from California Stem Cell Agency
When does a financially struggling biotech company turn down a $20 million “forgivable loan?”
When it is StemCells, Inc., of Newark, Ca., and the cash is being offered by the $3 billion California stem cell agency. The research program has handed out nearly 600 awards, and it is the first time that a recipient has rejected funding.
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