UVA to use $100 million gift to launch Paul and Diane Manning Institute of Biotechnology
CHARLOTTESVILLE, Va. (WVIR) - The University of Virginia announced plans today to launch the Paul and Diane Manning Institute of Biotechnology.
The new institute is made possible in large part due to a $100 million gift from the couple after whom it will be named. The first phase of the institute will be funded by an initial investment of $50 million from the Commonwealth of Virginia and $150 million from UVA, for a total initial investment of $300 million.
In addition to accelerating research, the new institute will allow UVA to expand its clinical trial offerings, making it possible for more people to access potential treatments as they are being developed.
“We live in an incredibly exciting time of discovery in medicine — and the Manning Institute will ensure UVA remains at the forefront of research and patient care,” said University of Virginia President James Ryan.
Governor Glenn Youngkin hailed the institute as a major victory for the state’s residents and its economy, saying that the economic impact will ripple outward for years to come.
“The announcement of the cutting-edge Paul and Diane Manning Institute of Biotechnology represents a critical step in Virginia’s rise in the biotech industry,” Youngkin said. “This major investment will help attract pharmaceutical companies to the Commonwealth and further my administration’s commitment to develop a thriving healthcare system.”
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