TRENTON – Senator Wayne R. Bryant today praised Governor Corzine and Senate President Richard J. Codey for advancing the $200 million stem-cell research measure which would provide $50 million for a joint biomedical research facility in Camden.
“South Jersey stands to benefit greatly from this measure because of its existing medical expertise and in-place research facilities,” said Senator Bryant, D-Camden and Gloucester. “Governor Corzine and Senator Codey are to be commended for making this a priority.”
The bill, S-1471, would appropriate $150 million in unused bond capacity for construction of a stem cell research facility in New Brunswick and another $50 million for the Camden facility.
Senator Bryant said the proposed Systems Biology Institute would be part of the Camden Campus of Rutgers University and also would tap the resources of the Coriell Institute for Medical Research and the newly formed Cancer Institute of New Jersey.
“These instititutions conduct cutting edge research and testing and are expanding the boundaries of biological science,” Senator Bryant said. “Together, they will provide a center for multi-disciplinary studies, including a focus on the biomedical community and Phd- research.”
Senator Bryant, who said he was proud to co-sponsor the legislation introduced by Senate President Codey and strongly endorsed by Governor Corzine, said he is especially hopeful of the bill’s enactment because it would provide such a boon to South Jersey students seeking doctoral degrees in biomedical research.
“Coriell is number one in the world right now in cord-blood research,” Senator Bryant said. “The potential is enormous with this advancement for both economic viability and academic development.”
Under the legislation, funding to construct the stem cell facilities would not impact the state’s operating budget because it would use existing bond capacity resulting from tobacco tax revenues. Bonds, backed by the cigarette tax, would be issued by the New Jesey Economic Development Authority.