Foundation boosts donations to stem cell researchers

May 20, 2019

One of the nation’s largest charitable foundations has increased its investment in stem cell therapy to $150 million with its latest donation.

The New York-based Starr Foundation recently gave $50 million – on top of previous gifts totaling $100 million – to the Tri-Institutional Stem Cell Initiative, which is made up of researchers at Memorial Sloan Kettering Cancer Center, the Rockefeller University and Weill Cornell Medicine.

The grant was reported in Crain’s New York Business newspaper.

“This definitely shows people are supporting stem cell research and they see how it can potentially change medicine and give us treatments for diseases that currently do not have a good treatment,” said Scott Jones, Vice President, Scientific Affairs at BioBridge Global.

BioBridge Global, through its new GenCure BioManufacturing Center, will be working with researchers looking at next-generation therapies, providing stem cells and expertise to help move those treatments from concept to clinical trial.

Members of the Tri-Institutional Stem Cell Initiative said their research is designed to understand health conditions, including Parkinson's disease, seizure disorders and cancer.

According to its website, the Starr Foundation has assets of approximately $1.5 billion, making it one of the largest private foundations in the United States. It makes grants in multiple areas, including education, healthcare, human needs, public policy, culture and the environment.

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