$25M Donation Will Fund Stem Cell Research Center
Eli and Edythe Broad on Thursday announced a $25 million donation to the University of Southern California to help fund the creation of a stem cell research institute at the Keck School of Medicine, the Los Angeles Daily News reports (Boghossian, Los Angeles Daily News, 2/24).
The 215,000-square foot facility, which will be called the Broad Institute for Integrative Biology and Stem Cell Research, is expected to be the largest stem cell research center in California when it opens in 2008, according to the AP/Orange County Register (AP/Orange County Register, 2/24).
Martin Pera, an U.S. researcher who has been working in Australia, will be director of the institute. Stem cell researchers from USC, Children's Hospital Los Angeles and the California Institute of Technology also will work at the facility, according to USC officials.
Eli Broad said that the facility will anchor a biomedical research park in Los Angeles (Leovy, Los Angeles Times, 2/24). He said the park could account for $1.3 billion annually in economic activity and $75 million in state and local tax revenue (Los Angeles Daily News, 2/24).
The Broad Foundation funds medical research related to the human genome and stem cells and urban education projects (Los Angeles Times, 2/24).
KPCC's "KPCC News" on Friday reported on the donation. The segment includes comments from Eli Broad and USC President Steven Sample (Nakano, "KPCC News," KPCC, 2/24). The complete segment is available online in RealPlayer.This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.