Proposition 38 would authorize $8.4 billion in state general obligation bonds for immunology and immunotherapy research, which are treatments that use the body’s own immune system to treat disease.
The funding would be allocated equally to a University of California-affiliated nonprofit medical research institute — to be chosen by the California Department of Public Health — and a grant program for public or nonprofit universities and institutions.
Half of the research funding must go to cancer, heart disease and Alzheimer’s disease research, with the other half slated for discretionary use for other diseases and illnesses. Any technology or drugs derived from the research must be sold in California at 20% below the national average price.
The bonds would be repaid through the general fund, with estimated costs of $500 million annually for 25 years. Some of that money could be recouped if the research leads to discoveries that create revenue.
The measure — called the “California Immunology Research and Cures Initiative” — is meant to fund California-based medical research that has the possibility to lower future healthcare costs and ensure California is a world leader in immunotherapy research and innovation.
Supporters include a bevy of healthcare-related groups, including Alzheimer’s Los Angeles, Alzheimer’s Orange County, City of Hope, Prostate Cancer Foundation and the ALS Association.
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