S1091

TRENTON – Both houses of the legislature today approved a measure to invest nearly a quarter of a billion dollars in long-term funding for stem cell research, a move hailed by advocates as an investment in hope. The $450 million initiative, sponsored by Senate President Richard J. Codey and Senator Barbara Buono, caps off a critical investment drive by the State of New Jersey, which in December approved a $270 million initiative to fund a world-class stem cell institute and several other biomedical research facilities.

“New Jersey will now be a part of the front line in the search for cures to some of our most obstinate afflictions,” said Sen. Codey (D-Essex). “The potential yield on this investment – in terms of lives saved, hope restored, and economies revitalized – is unlimited. With the support of our residents in November, this public investment will be nearly unparalleled in the United States.”

TRENTON – The Senate Budget and Appropriations Committee today approved a bill sponsored by Senate President Richard J. Codey authorizing the state to seek voter approval to fund $230 million in grants to support long-term stem cell research. Bill S-1091, co-sponsored by Senator Barbara Buono (D-Middlesex), now heads to the full Senate for approval.

“This legislation will provide New Jersey voters with an important opportunity to help shape our values as a state and a society,” said Sen. Codey. “These grants will enable New Jersey to attract some of the world’s best scientists, and their research could ultimately lead to new treatments and cures for life-threatening illnesses like cancer, Parkinson’s disease, diabetes and spinal cord injuries. If we are going to play a realistic role in leading the way to some of these cures, then the time to act is now.”