Yale University scientists will see a rise in the number of research awards available to them thanks to a recent $40 million donation from the Blavatnik Fund for Innovation, a branch of the Blavatnik Family Foundation.
The donation will also help Yale support a wider range of biomedical innovations in areas such as oncology, neurology, digital health, infectious disease, and biological tools.
Run by the university’s innovation arm Yale Ventures, the Blavatnik Fund for Innovation aims to bridge the gap between early-stage research and the development of real-world, high-impact biomedical innovations through start-up formation and industry partnerships.
To date, the fund has supported 63 projects, providing a total of more than $20 million in direct funding. Its efforts have led to the launch of 19 start-ups that have raised $254 million in additional venture and non-dilutive funding. Three of the projects supported by the fund have achieved FDA Investigational New Drug (IND) status, and four clinical trials have been initiated.
“By providing essential resources to faculty members, the Blavatnik Fund for Innovation at Yale has helped to accelerate the pace of new research and technology, opened pathways for the flow of ideas and breakthroughs from the academy to industry, and helped to speed the deployment of discoveries for the benefit of society,” says Yale President Peter Salovey.
“I am deeply grateful for this generous gift from the Blavatnik Family Foundation and its ongoing support of Yale investigators,” Salovey adds. “I look forward to the knowledge and potential we will unlock together in the years ahead.”
Source: Yale Ventures
