The California Institute for Regenerative Medicine approved a $100 million RAPID initiative to accelerate platform-based in vivo genetic therapies for rare diseases, pushing toward scalable approaches rather than single‑indication programs. CIRM’s program aims to fund IND‑enabling work through first‑in‑human trials and to standardize delivery and regulatory strategies across multiple disorders. On the financing front, PrimeGen US filed to go public via a SPAC merger with DT Cloud Star to fund preclinical stem cell and exosome programs, including triple‑activated mesenchymal stem cells for acute liver injury. The move underscores continued interest in financing regenerative medicine platforms through alternative public routes despite a risk‑sensitive IPO market.