Broad Foundations Awards $100 Million to Eli and Edythe L. Broad Institute of MIT and Harvard

Broad Foundations Awards $100 Million to Eli and Edythe L. Broad Institute of MIT and Harvard

The Eli and Edythe L. Broad Institute of MIT and Harvard has announced a $100 million gift from the Broad Foundations in support of its work to harness recent biomedical discoveries for the benefit of patients.

The gift will help Broad researchers build on their efforts over the last ten years to develop therapeutic road maps for a variety of human diseases, enabling more precise and effective treatment options for patients. Founded in 2003, the Broad Institute brings together scientists from the Massachusetts Institute of Technology, Harvard University, and Harvard-affiliated teaching hospitals in a diverse range of disciplines, including biology, medicine, chemistry, and computer science.

Through collaborations with its partner institutions and other organizations around the world, the institute has pioneered scientific advances aimed at developing a more precise understanding of disease biology, diagnosis and treatment, including discovering the genes and molecular underpinnings of major human diseases ranging from diabetes to cancer to infectious disease; applying that knowledge to systematically map the "wiring diagram" of cell control, revealing the key vulnerabilities that underlie disease; and discovering and developing diverse chemical compounds that can target those vulnerabilities.

The latest commitment from the Broads is their fourth nine-figure gift in support of the institute and boosts their total contribution to the institute to $700 million. The Broads were among the first signatories to the Giving Pledge and have announced that they intend to give 75 percent of their wealth to philanthropic causes.

"When we made our first investment to create the Broad Institute, we shared Eric Lander's vision that discoveries in biomedical research held the key to beating devastating disease and improving people's lives," said Eli Broad. "As the Broad Institute nears its tenth anniversary, it has already made transformative discoveries, building on the successes of the Human Genome Project. Our latest investment is intended to catalyze the next decade of innovation and discovery. Our goal is to enable the Broad Institute community to continue to take bold risks, bring together the brightest minds in the field, and pursue game-changing breakthroughs that are needed to make a difference in science and medicine."

"Broad Institute Launches Next Decade With New $100M Gift." Broad Institute of MIT and Harvard Press Release 11/14/2013.