BIOTECHNOLOGY INSTITUTE
See UVA announcement about the Biotechnology Institute. Initial investment of $300 million.
Learn more about What is Biotechnology?
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The University of Virginia’s Institute for Biotechnology will receive $36 million to accelerate genomics/gene therapies and drug delivery technologies through incentives designed to attract 150 research scientists. Research scientists will be operating out of a new state-of-the-art facility that will serve as a research and translational therapies facility which includes a dedicated 30,000-square-foot area for biomanufacturing.
The University of Virginia announced plans to launch a biotechnology institute that positions UVA at the very forefront of cutting-edge medicine, such as cellular and gene therapies that revolutionize how diseases are treated and cured. The new institute is made possible in large part due to a $100 million gift from the couple after whom it will be named.
UVA’s new Paul and Diane Manning Institute of Biotechnology will advance research in these areas for the benefit of patients everywhere and, closer to home, ensure that no Virginian needs to leave the state for even the most complex care. Paul Manning is the chair and chief executive officer of PBM Capital, a health care-focused investment firm.
In addition to transforming health care delivery across the state, UVA’s ambitious plans will significantly boost the economies of both Central Virginia and the entire commonwealth. The Manning Institute is anticipated to generate hundreds of jobs directly, as well as potentially thousands indirectly. It is also anticipated to attract pharmaceutical and biotech companies to what is expected to become a major hub for research and manufacturing centered around UVA’s new state-of-the-art biotech facility. The added economic impact is anticipated to be significant over the coming years.
In addition to the generous gift from Paul and Diane Manning, the first phase of the institute will be funded by a substantial initial investment of $50 million from the Commonwealth of Virginia and $150 million from UVA, for a total initial investment of $300 million.