Broad Institute To Receive Additional $100M for Genomic Research
California businessman and philanthropist Eli Broad and his wife, Edythe, will donate an additional $100 million to the Broad Institute, a Cambridge, Mass., genomic research center established in 2004 through an initial $100 million donation from the Broads, the Boston Globe reports. The institute -- a partnership between Harvard University, the Massachusetts Institute of Technology and the MIT Whitehead Institute -- seeks to find biomedical applications for genomic research.
As a stipulation of the donations, the institute is receiving the $200 million through $20 million annual installments over ten years.
Eric Lander, a director and one of four principal scientists at the institute, said that the institute has not decided how to use the additional funds.
The institute also receives funds through research agreements with pharmaceutical companies, such as Novartis, Eli Lilly and Bristol-Myers Squibb. The institute makes public all research results found through such agreements (Heuser, Boston Globe, 12/1).
Eli Broad said that he donated the additional funds because he was "impressed with the progress in the first 18 months and wanted to see that progress accelerate" (Wall Street Journal, 12/1).