Wednesday, May 9, 2007

One billion is offered for biotech program

In the most sweeping policy announcement of Massachusetts Governor Deval Patrick administration, Governor Patrick proposed a $1 billion life science initiative on Tuesday May 8th 2007 at the biotechnology International Convention. The initiative will potentially cement the state's reputation as a global powerhouse of medicine and biotechnology scientific research.

In addition to research, the 10-year initiative would fund start-up companies, as well as create a stem cell bank at the University of Massachusetts for newly created lines of embryonic stem cells, a controversial arena of research currently barred from federal funding.

"We want Massachusetts to provide the global platform for bringing your innovations from the drawing board to the market, from inspiration to commercialization, from ideas to cures," said Patrick.

Patrick was joined on the platform by Senate President Therese Murray, who wore a yellow bracelet in memory of family members who have died of cancer, and House Speaker Salvatore F. DiMasi. Both pledged support for the proposal.

If approved the plan would dramatically increase the biotechnology research industry and create hundreds of new jobs.

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