OAKLAND (AP/CBS SF) -- A proposition that would keep alive first-of-its-kind stem cell research program in the East Bay was leading after the polls closed on Tuesday.
With about 6 million votes counted, Proposition 14 was ahead 53% to 47%.
The measure would authorize a $5.5 billion bond sale to bail out the California Institute for Regenerative Medicine (CIRM), which was created by a similar $3 billion bond measure in 2014 but is now nearly broke.
Oakland-based CIRM recruits scientists from all over the world. It funds clinical trials for stem-cell based therapies for incurable diseases. There are currently dozens of on-going trials in such areas as blood cancer, diabetes and HIV/AIDS.
With dozens of stem cell research trials underway, supporters say the money is desperately needed.
Opponents say that in a pandemic-induced economic crisis, California simply can't afford it.
© Copyright 2020 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.
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