The Michigan Senate on Thursday approved 37-0 two bills that would create a Life Sciences Investment Authority, which would sell bonds to invest in biotech businesses in the state but could not spend public funds on embryonic stem cell research or human cloning, the... AP/Detroit Free Press reports. The legislation would require the Biosciences Research and Commercialization Center at Western Michigan University to oversee the Michigan Life Sciences Pipeline and help scientists and businesses bring research to market. The state could invest in start-up businesses or form public-private partnerships and would receive part of the profits from successful companies to pay off the bonds and replenish the fund (AP/Detroit Free Press, 5/12).

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