Financing, Pharma

Broad Institute receives $650 million in grant financing

Posted on 29 July 2014

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The Broad Institute announced an unprecedented grant financing commitment of $650 million from philanthropist Ted Stanley.

It is aimed at galvanizing scientific research on psychiatric disorders and bringing new treatments based on molecular understanding to hundreds of millions of people around the world.

The Stanley commitment the largest ever in psychiatric research and among the largest for scientific research in general will support research by a collaborative network of researchers within the Stanley Center for Psychiatric Research at the Broad Institute, a biomedical research institution that brings together faculty from MIT, Harvard University, the Harvard-affiliated hospitals, and collaborators worldwide.

Stanley's commitment to support the work of the Broad Institute will consist of annual gifts during his lifetime followed by a bequest, with a total current value exceeding $650 million.

Taking prior gifts into account, Stanley's philanthropy in support of the Broad Institute's work totals more than $825 million.

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