Can California afford Prop 38?
Fact: Prop 38 is designed to pay for itself. 10% of revenues from the licensing of successful therapies go back to the state, covering both the principal and the interest of the bonds. Furthermore, preventing and curing the most prevalent diseases will reduce long-term healthcare expenses for Californians by tens of billions of dollars in avoided medical expenses and lower insurance premiums.
Prop 38 includes strong accountability and transparency requirements, including limiting state administrative costs to run the program to no more than 2%, requiring all grant funds to nonprofit universities and research centers be spent directly on medical research, rigorous conflict of interest rules, public disclosure of all spending and independent financial audits. Every dollar is traceable, accountable and focused on saving lives.
For the millions of families that are facing life-threatening and life-altering diseases that take away our loved ones, we can’t afford NOT to invest in promising cures.
Why does California need Prop 38 when the federal government funds medical research too?
Fact: Prop 38 responds to massive federal funding cuts and uncertainty that are shutting down life-saving medical research at California universities and research institutes. We are in a race against time, and patients and their loved ones can’t afford to wait.
Prop 38 creates a stable source of funding for scientists and medical experts to accelerate the pace of discoveries to help the tens of millions of patients fighting cancer, heart disease, Alzheimer’s and other debilitating diseases.
Prop 38 will make California a national leader in breakthrough medical research, fostering collaboration between leading California-based universities, scientists and physicians.
Prop 38 will bring further investment into our state, creating billions of dollars in economic benefits and tens of thousands of good-paying jobs. Scientific research has become a critical economic engine in California, and studies show that each dollar invested in medical research returns three dollars back into our state’s economy.
Does half of Prop 38 funding go to one research institute?
Fact: Half of Prop 38 funding will support a world-class nonprofit immunology research institute affiliated with the University of California with access to leading scientists, technology, laboratory equipment, patients and clinical trials necessary to scale and quickly turn research into life-saving cures.
The California Institute for Immunology and Immunotherapy will very likely apply for funding and meet qualification requirements. However, state bond measures cannot designate funding to a specific named institute but can establish criteria to ensure the most qualified entities are eligible. Ultimately, the California Department of Public Health is charged with determining which institute receives the funds.
Will scientists or politicians decide which research Prop 38 funds?
Fact: Under Prop 38, scientists and researchers oversee a competitive process to ensure the most qualified research with life-saving potential is awarded funding. Prop 38 establishes an Advisory and Accountability Research Council, composed of members from seven University of California campuses and 10 – 15 members from California nonprofit universities and academic and research institutions. Each member of the council will be a physician, scientist or researcher with demonstrated experience in the field of immunology and immunotherapy.
Should the private sector fund this research instead of Prop 38?
Fact: Public funding like Prop 38 is vital to support medical research. More than 99% of new FDA-approved drugs from 2010 to 2019 were built on publicly funded research. Prop 38 builds on this proven model by supporting universities and nonprofit researchers to move discoveries from the lab to patients faster and more cost-effectively.
Will the people funding Prop 38 benefit financially?
Fact: Prop 38 is funded by a doctor and philanthropists who will not benefit financially. Only public universities and nonprofit research institutions in California are eligible to receive research funding.
YES on Prop 38 is supported by leading patient advocates including The Michael J. Fox Foundation for Parkinson’s Research, Alzheimer’s Association, ALS Association, Blood Cancer United, American Nurses AssociationCalifornia, Kidney Cancer Association, Melanoma Research Alliance, Parkinson’s Foundation, and Prostate Cancer Foundation, as well as patients, doctors and researchers because it will accelerate life-saving cures. This is a publicly accountable, voter-approved bond.