TRENTON – The Senate today approved by a vote of 29 to 10 a measure sponsored by Senate President Richard J. Codey and Senators Barbara Buono and Wayne R. Bryant, that would appropriate $50 million in unused bond capacity to fund a biomedical research institute in Camden.
“The creation of this new facility would work to help maintain South Jersey’s status as a leader in medical research,” said Senator Bryant, D-Camden and Gloucester. “The Coriell Institute is world-renowned for its biomedical work, and this funding and the formation of the Rutgers Camden research institute , along with other world-class facilities in our area would allow many of the State’s brightest minds to work together and find ways to help improve the health of people in New Jersey and around the world.”
According to the bill, S-1471, $50 million of the total $250 million appropriation would go toward the Systems Biology Institute, a project to be located on the Camden campus of Rutgers University, with input from The Coriell Institute, UMDNJ, the Cancer Institute of New Jersey and Cooper University Hospital, designed to support biomedical research throughout the State. Of the remaining $200 million, $150 million would go toward establishing the Stem Cell Institute of New Jersey, a joint project of Rutgers- New Brunswick and UMDNJ. The remaining $50 million would fund a stem cell research facility at Newark’s NJIT.
This bill was approved by the Senate Budget and Appropriations Committee in March. It now heads to the Assembly for consideration.