Presidents and chancellors representing 17 New York universities and institutions with substantial biomedical and life sciences research programs today released a comprehensive analysis of the scientific, therapeutic, and economic issues related to stem cell research. The study, titled "New York and Stem Cell Research," details the competitive research environment that has emerged in past several years and its implications for the state's biomedical research community and economy.

"Recognizing the enormous potential of stem cells Mount Sinai School of Medicine has, with a generous philanthropic gift, created the Black Family Stem Cell Institute to establish a world-class research program in stem cell biology and medicine," said Kenneth L. Davis, MD, President and CEO, The Mount Sinai Medical Center and Dean, Mount Sinai School of Medicine. "There is no question as to whether or not leading scientists and institutions will pursue this critical area of research. However, philanthropic support and the efforts of individual institutions will not be sufficient to attract and retain scientists who are leaders in this field. If New York is to be counted among the elite group of leaders in biomedical research in the years to come, a large-scale, centralized effort is needed today or we risk losing our intellectual capital, and, thus, our potential."

Federal funding restrictions on human embryonic stem cell research have prompted several states to establish state-based research funds aimed at capturing the scientific and commercial potential of this new field of medicine. The most prominent example is California, where last year voters approved an initiative to establish a 10-year, $3 billion stem cell research fund. Several other states, including New Jersey, Conne
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Contact: Debra Kaplan
debra.kaplan@mssm.edu
212-659-9045
The Mount Sinai Hospital / Mount Sinai School of Medicine
7-Feb-2006