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