Kerkorian fund grant is for macular degeneration research

A private foundation is giving UC Irvine $1 million to explore ways to use human embryonic stem cells to treat age-related macular degeneration, the largest cause of blindness in people 65 or older.

The grant money is being awarded by the little-known Lincy Foundation of Beverly Hills, a charitable fund that Los Angeles billionaire Kirk Kerkorian created and named after his daughters, Linda and Tracy.

A foundation official confirmed that Kerkorian would be investing $900,000, with an additional $100,000 to come.

The money goes to Hans Keirstead, who as co-director of the UCI Stem Cell Institute convinced famed bond trader Bill Gross of Newport Beach to donate $10 million for stem-cell research and the construction of a building.

The Kerkorian grant means that Keirstead will be expanding his research interests. For years, he has primarily used embryonic stem cells to search for ways to treat spinal cord treatment. The new grant will result in research aimed at vision.