In reference to the Coalition for Lifesaving Cures, which has sunk boatloads of money into supporting Amendment 2, blogger X-Catholics notes that "about 97 percent of the group's funding has come from just two people -- Jim and Virginia Stowers, founders of the Stowers Institute.."
Most Missourians assume that the Stowers Intitute is a not-for-profit research facility and that their interest in passing Amendment 2 is strictly on philanthropic grounds. Such is not the case. Jesse Water', the producer of the O'Reilly Factor, did some research on the Stowers Institute:
...it has been reported that the Institute has made a $300 million expansion project contingent on Amendment 2 passing. If Amendment 2 fails, the project could well be move to another state and jeopardize the Stowers’ long term goals. (ed: Hence Gov. Blunt's support of the amendment.)
...The Stowers Institute has also formed the BioMed Valley Partnership, which includes a for-profit arm, BioMed Valley Discoveries Inc., set up to “patent, develop and market the discoveries of the Stowers Institute” and its partners to medical and pharmaceutical companies such as Merck or Pfizer. The BioMed Valley Partnership includes Kansas University and the University of Missouri-Kansas City, whose researchers cede their intellectual property rights to BioMed Valley Discoveries in exchange for large endowments. Although Stowers officials claim that the conglomerate’s current business plan requires that profits be plowed back into Stowers Institute activities, this plan could be changed by its board of directors at any time. BioMed Valley Discoveries could go public at any time and possibly create billions of dollars in value, much of it generated by the tax dollars provided by Amendment 2 that would finance research at Stowers Institute. Stowers’ investment company could potentially be an early investor.
Virtually the same individuals serve as board members or officers in Stowers’ non-profit and for-profit entities. In fact, the IRS was reportedly wary of Stowers’ organizational structure several years ago. Also a concern for many is the almost $2 million in federal tax-payer grants that the Stowers Institute receives each year, which could potentially be used for harvesting human embryos after November 7th. Records indicate the Jim & Virginia Stowers have donated significantly to lawmakers sympathetic to his research.
Hat tip to Michelle Malkin.
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