Category Archives: State funding

UVa Announces $300 Million Biotechnology Institute

From left, UVa President Jim Ryan, Governor Glenn Youngkin, Paul Manning, UVA Health CEO Dr. K. Craig Kent and University Rector Whitt Clement. Photo credit: UVA Today

by James A. Bacon

Entrepreneur-philanthropist Paul Manning and his wife Diane have donated $100 million to create a biotechnology institute that will focus on cellular therapy, gene therapy, nanotechnology and drug delivery to counter diseases that have so far eluded treatment. In making the announcement Friday, Virginia officials say the new institute could become an important economic driver for Virginia, attracting biotech and pharmaceutical companies to the state and potentially generating thousands of direct and indirect jobs.

The Mannings’ gift will be matched by a $50 million investment from the Commonwealth of Virginia and $150 million from the University of Virginia itself, according to UVA Today.

“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,” UVa President Jim Ryan said. “Paul and Diane Manning’s extraordinary gift will mean new treatments and therapies for the patients who need them most, and I’m immensely grateful for their generosity and vision.” Continue reading

Another Higher-Ed Apologist Calls for More State Funding

James Socas

by James A. Bacon

You’d think James Socas would know better. As an employee of the Blackstone Group, he invests in technology companies. He knows what it takes to run successful business enterprises. He has even served two terms on UVa’s alumni association board. But he’s willing to cut Virginia public universities plenty of slack when it comes to the way they run their enterprises.

In an op-ed he wrote for the Richmond Times-Dispatch, Socas calls for greater state funding for Virginia’s public colleges and universities — with no strings attached and no calls for accountability. He should know better.

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