Stem Cell Research Wins $10M
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IRVINE, Calif. — A wealthy bond trader and his wife will donate $10 million to the University of California, Irvine, for stem cell research, much of it for a proposed research building.
About $2 million will be allocated to support human embryonic stem cell research at the university, the founder and chief investment officer of the Newport Beach-based investment firm PIMCO, Bill Gross of Newport Beach, said.
Another $8 million will be a matching gift for a proposed stem cell research center, he said. “Despite its understandable controversy, there is so much promise in stem cell research.”
The gift helps the university’s efforts to compete with science centers in San Diego, Los Angeles, and the Bay Area.
