- Associated Press - Tuesday, August 18, 2015

SAN FRANCISCO (AP) - Sky high rents is forcing California’s stem cell funding agency out of San Francisco after a decade in the city.

The San Francisco Chronicle reports (https://bit.ly/1Nr2Qre) Tuesday that the California Institute for Regenerative Medicine is moving across the bay to Oakland.

The organization has been operating rent free from a 20,000-square-foot space in Mission Bay as part of a deal with the city.

Billed as the world’s largest stem cell funding agency, no research is done at the site.

It is where the agency considers grant requests for stem cell research to find cures for such conditions as neurological disorders, blindness, spinal cord injuries, and other chronic conditions and doles out funding, primarily to academic institutions, the newspaper reported. The agency will now have its offices in 17,000 square feet of space on two floors near Lake Merritt.

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Information from: San Francisco Chronicle, https://www.sfgate.com


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