SACRAMENTO, Calif.—Research funded by California’s stem cell agency will not be immediately affected by an ordered suspension of state bond sales amid a budget crisis, an official told BNA Jan. 12.

The California Institute for Regenerative Medicine (CIRM), which is wholly funded by state bonds, will suffer “no impact” from the suspension of bond issuance, the agency’s chief communications officer, Don Gibbons, told BNA.

“We have sufficient funds to carry us through the year and did not plan to ask for any bond proceeds this spring,” Gibbons said.

The state’s plan not to issue additional municipal debt came as part...