New York state Health Commissioner Richard Daines, who is also the chair of the Empire State Stem Cell Board, said the funding would “ensure the best and the brightest new stem cell investigators conduct their research in New York state.”

NY State Governor David Paterson said that $5.4 million would earmarked to recruit research fellows and transition them into research institutions in New York. The remaining $15.4 million would be used to establish multi-institutional research facilities.

“Investment in stem cell research is part of our vision to make New York a global leader in the new economy,” Paterson said.