Back in November 2020, California voters approved Proposition 14. That means US$5.5B is being directed to the California Institute for Regenerative Medicine (CIRM) to support promising cell and gene therapy research so the organization can continue the important work it began in 2004.
Although CIRM had quite a head start and launched with very impressive funding, it ended up in an article alongside start-ups in Canada and the UK: CCRM and the Cell and Gene Therapy Catapult (“Catapult”), respectively. We were not operating on an even playing field – CIRM launched with US$3B compared to Catapult’s GBP$150M and CCRM’s CA$15M; nevertheless, the three government-funded entities were the subjects of a profile in Nature Biotechnology in 2014 called “Therapies of the State.” The premise of writer Beth Schachter’s article was “What can governmental agencies do to lower the risk of cell therapies and the enterprises commercializing them?
It was a good question and seven years later we know that these organizations have supported, enabled and helped accelerate the industry as they promised they would. While the metrics below don’t always compare apples to apples, here are some highlights.
CIRM (all funds in U.S. dollars)
- funding 71 clinical trials in 11 disease areas;
- 56,549 additional full-time equivalent (FTE) jobs;
- $10.7 billion of additional gross output (sales revenue);
- $641.3 million of additional state/local tax revenues;
- $726.6 million of additional federal tax revenues;
Visit the Impact page on CIRM’s website to read about infrastructure, training efforts and awarded grants. Or, if you prefer, you can learn about CIRM’s impact by watching this video from “Stemmy the Stem Cell,” voiced by Canadian actor and comedian Seth Rogen, who urged California voters to accept Proposition 14, which we know they did.
The Catapult
- 127 active clinical trials compared to 85 in 2018
- Over 3,000 jobs compared to 540 when it launched in 2012
- GBP$2.5B has been invested in UK companies
- 26 Good Manufacturing Practices (GMP) facilities compared to 11 in 2012
- The Catapult opened a 25,000+ ft2 (7,700m2) manufacturing facility in 2018
The Catapult also has an Impact page with more information.
CCRM (all funds in Canadian dollars)
- $55M invested in 10,000 ft2(~930 m2) centre for advanced manufacturing and process development activities at CCRM
- CCRM opens Toronto’s largest GMP facility for cell and gene therapies at 20,000 ft2(~1,300 m²)
- 1,000 jobs projected with build of biomanufacturing campus
- $4.9M invested into 12 portfolio companies, which have raised over $779M
- Supported and helped launch 14 Canadian companies.
- Over 400 technologies have been assessed and 25 technology projects are ongoing
Read more about CCRM’s impact in this 10th anniversary backgrounder.
Dr. Schachter made the point that, without government assistance, it would be an “uphill struggle still in attracting money from venture capitalists or even pharma” into the industry. The circumstances are very different today. 2020 was a record year for investment in the field. The sector attracted US$19.9 billion in financing, compared to the previous record of US$13.5 billion.
So, progress has undoubtedly been made and these organizations are having a measurable impact on sustainable health and economic benefits in their “countries.” (I know California isn’t a country. Yet.) CIRM’s funding puts it nearly on par with how much the National Institutes of Health dedicates to stem cell and regenerative medicine research, according to Dr. Paul Knoepfler, which is quite remarkable. We know it has the funds to keep going. Catapult received GBP$100M last year to turn one of its facilities into a vaccine manufacturer and it has received other large funding amounts recently so its fate is also assured. CCRM’s sustainability model – fee-for-service work and taking equity in companies it has founded and invested in – should keep it around for at least another decade.
Which leads me to the fact CCRM is celebrating its 10th anniversary. You can watch CCRM’s 10th anniversary video, with messages from prominent academic and industry leaders, below.
Stacey Johnson
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