$400 Million More for Harvard and MIT

Posted on October 2, 2008  Comments (1)

$400 million endowment for the Broad Institute of Harvard and MIT

“Today the Broad Institute is the world’s leading genomics and biomedical institute, and we’re now making a $600 million bet that the Broad will be the place where the greatest scientific discoveries take place,” Eli Broad said at today’s ceremony.

In its short history, the Broad Institute’s accomplishments include cataloging and identifying genetic risk factors for diseases such as type 2 diabetes and autism; discovering new therapeutic targets for cancer, malaria, and other diseases; and applying genomic tools to better understand and treat human pathogens like tuberculosis.

The Broads’ gift is the largest to support biomedical research at a university anywhere in the world. The Broads initially invested $100 million in 2003 as a way to test the institute’s new approach to biomedical research. By 2005, the Broad Institute had already made significant accomplishments and progress, and the Broads invested a second $100 million. Their endowment of $400 million today will allow the Broad Institute to transition to a permanent, non-profit 501(c)(3) organization with both Harvard and MIT still at the heart of it, continuing to help govern the institute.

Many countries would love to create a world class center of biomedical research. And several are trying. Boston sure seems to be staking a claim that it will be one of those centers of excellence. The economic benefits of that to Boston will be huge.

Related: Harvard Plans Life Sciences Campus$1 Billion for Life Sciences in MassachusettsChina’s Gene Therapy Investment$600 Million for Basic Biomedical Research from HHMIEdinburgh University $115 Million Stem Cell Center

One Response to “$400 Million More for Harvard and MIT”

  1. Bill Dietrich Gives Carnegie Mellon University $265 Million » Curious Cat Science and Engineering Blog
    September 8th, 2011 @ 11:10 am

    […] Board of Trustees gets new chairperson: Dietrich (July 2001 article) – $400 Million More for Harvard and MIT – Economic Strength Through Technology Leadership – Stanford Gets $75 Million for Stem […]

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