Upload
davidjensen
View
10
Download
0
Tags:
Embed Size (px)
DESCRIPTION
Slides provided by stem cell agency at request of the California Stem Cell Report.
Citation preview
Presidents Report
C. Randal Mills, Ph.D. President and Chief Executive Officer
California Institute for Regenerative Medicine
September 10, 2014
Topics
Staying FOCUSED on the MISSION
Budget Commentary
CIRM 2.0 Building a be#er stem cell agency
Our Mission
Accelera)ng stem cell treatments to pa)ents with unmet medical needs.
It is all about the patients.
The Four Part Test
Will it speed up the development of a stem cell treatment?
Will it increase the likelihood of success?
Will it meet an unmet medical need?
Is it efficient?
BUDGET REVIEW
Two Separate Funds
$180M
Administrative Budget
$2.75B
Award Budget
Grants Administration Budget
$180M
Administrative Cost
$89 million spent
$91 million remaining
Current spending rate is about $13 million per year
Funded until 2021 at current spend rate
Award Budget
$2.75B
Award Budget
$1.9 B awarded (not all spent) Estimated $50-100M of the
$1.9B awarded will be recovered
$880M not awarded Leaves approximately $1B
available to award
Sufficient funding at current rate until 2020
Key Issues
All the Kings Horses Spending money faster does not necessarily speed up the development process
A Penny Saved? Our goal is not to save money it is to find cures
Quality Matters Uncertain CIRM will be able to maintain a $190 million annual award rate with our current pipeline we need more high quality projects
CIRM 2.0 Building a be#er stem cell agency
CIRM 2.0: Purpose
To create a process at CIRM for a#rac)ng, awarding and administering grants that be#er serves our mission
If successful, this should lead to:
More high quality applications Reduced cycle time
Accelerated progression of funded projects
Clarity
The Overall Process
Application Contracting Administration Review
Example process for clinical stage
projects
The Overall Process
Application Contracting Administration Review
Concept plan approval, RFA generation, LOI review, and
application submission.
The Overall Process
Application Contracting Administration Review
Includes eligibility evaluation, COI checks, GWG review and
Board approval.
The Overall Process
Application Contracting Administration Review
Budget reconciliation, plan amendments, milestone and
financial term agreement.
The Overall Process
Application Contracting Administration Review
Disbursement, progress reporting, CDAP, and milestone evaluation.
The Overall Process
Application Contracting Administration Review
9-15 months
The Overall Process
Application Contracting Administration Review
9-15 months 5-7 months
The Overall Process
Application Contracting Administration Review
9-15 months 5-7 months 5-7 months
The Overall Process
Application Contracting Administration Review
9-15 months 5-7 months 5-7 months
Overall Cycle Time 19-29 months
The Overall Process
Application Contracting Administration Review
9-15 months 5-7 months 5-7 months
Overall Cycle Time 19-29 months
4 years
Significant Opportunities
Timing More frequent calls Shorter review time
Structure Agreements that better motivate the behavior we want Clear success criteria
Accelerating Activities More frequent interaction where we can help (FDA, BD, etc.) Seamless transitions
CIRM 2.0 Rollout Plan
Now October Continue to meet with stakeholders Refine working ideas Meet with the Scientific Subcommittee
October Board Meeting Present concept plan to the Board
December Board Meeting Adopt necessary policy and procedure modifications
January 1st Launch first phase
Thank you!
C. Randal Mills, Ph.D. President and Chief Executive Officer
California Institute for Regenerative Medicine