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Biotech / Medical : Stem Cell Research

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From: JustKidding1	2/3/2006 2:12:45 PM
	of 495

NY mayor donates $100 mln to stem cell research today.reuters.com NEW YORK (Reuters) - New York`s Republican Mayor Michael Bloomberg has made a $100 million donation toward stem cell research in the latest quiet move against his own party`s policies. The self-made billionaire made the anonymous donation to his old school, Johns Hopkins University, where he is a former board chairman. A substantial part of the donation will be used to fund stem cell research, a source with knowledge of the gift said. Bloomberg, a philanthropist and life-long Democrat who became a Republican for the 2001 mayoral election, has walked a political tightrope, remaining loyal to some liberal policies while courting Republican powerbrokers, even hosting the 2004Republican National Convention. The founder of Bloomberg LP, a competitor of the Reuters Group as a global distributor of news and financial information, publicly supports abortion and gay rights and has made gun control a major theme of his second term. Bloomberg has said he will not seek higher office and will devote his life to philanthropy. His latest $100 million donation will be used toward public health projects and the School of Medicine and its Institute for Cell Engineering. Scientists hope to conduct stem cell research to find treatments for diseases including Parkinson`s disease and diabetes. The Bush administration has not supported federal funding of embryonic stem research which would include cloning embryos, citing right-to-life and ethical issues. Bloomberg`s donation to the university follows earlier donations including a $100 million commitment he completed in 1998 -- at that time the highest donation ever received by the school. In 2001, the university renamed its public health school the Johns Hopkins Bloomberg School of Public Health.

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