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Patrick Signs $1 Billion Life Sciences Bill

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Jun 16, 2008 2:15 pm US/Eastern

Patrick Signs $1 Billion Life Sciences Bill

BOSTON (AP) ― Gov. Deval Patrick is heading to California for an international biotechnology conference toting a new $1 billion life sciences law.

House Speaker Salvatore DiMasi, Nobel Prize winner Craig Mello and New England Patriots owner Robert Kraft joined the governor Monday as he signed the landmark legislation at the Joslin Diabetes Center in Boston. Kraft has funded medical research, and Mello is a UMass researcher who won the 2005 prize for medicine.

The 10-year measure includes $500 million in capital funding, $250 million to fund research grants and $250 million in tax incentives for certified life sciences projects.

The bill became law in the heart of Boston's Longwood Medical Center, home to Harvard Medical School and cutting-edge medical facilities. The law also will help in developing five regional technology and innovation centers.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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