A California agency that oversees $3 billion in stem cell research funding Wednesday named former Osiris Therapeutics head C. Randal Mills to replace its outgoing CEO.
Mills, a Bethesda native and Baltimore resident, stepped down in December after almost 10 years at Osiris, citing personal reasons.
The California Institute for Regenerative Medicine's governing board selected Mills from seven finalists after interviews in April, spokesman Kevin McCormack said. He will make $550,000 in his new position and a start date has not been determined, McCormack said.
The agency noted Mills's leadership of Osiris as it commercialized stem cell drug Prochymal in its announcement of his selection. Mills also served on the agency's grant review board for the past five years.
CIRM's current CEO announced his intention to leave in October.
"It is a tremendous honor to be selected to lead the world's largest stem cell institute during such an exciting and pivotal time for the technology," Mills said in a statement. "We are entering a new phase in regenerative medicine, where an increasing number of therapies are heading into clinical trials. It is our mission to do everything possible to accelerate the development of these treatments for the patients who need them."