Billionaire philanthropist Eli Broad announced today, along with the chancellor, mayor and governor, a gift of $20 million to UCLA’s stem cell institute.
The money will be used in conjunction with the millions of dollars UCLA has received from the state to pioneer stem cell research, human genomics and inflammatory bowel disease, Broad said at a press conference.
Broad added that much of the money he is donating will be used for faculty recruitment, endowed chairs and renovations ““ projects that are very difficult to receive funding for through traditional channels.
Owen Witte, the director of the institute, stressed the importance of the research and mutual goals of both Broad and the university in using the research to make a difference in patients’ lives as soon as possible.
“With the Broad Foundation gift, we will be able to continue to make great strides in learning how stem cells self-renew and differentiate,” he said, adding that stem cells have the potential to treat diseases such as HIV and diabetes.
Acting Chancellor Emeritus Norman Abrams said this gift is a powerful symbol of the future of university funding, demonstrating how state support and private funding can work together and complement one another to reach a research goal.
After the press conference, Hanna Mikkola, a professor of molecular, cell and developmental biology, gave a tour of the lab ““ demonstrating how stem cells were stored and how researchers isolate the undifferentiated blood stem cells in a placenta.
“With the funds from this donation, we can now plan projects that previously we could have only dreamed of,” she said.
To recognize Broad’s contribution to the university, the UCLA Institute for Stem Cell Biology and Medicine will be renamed to the Eli and Edythe Broad Center for Regenerative Medicine and Stem Cell Research.