TCCI Awards $75.7 Million for Shanghai Brain Disease Institute

TCCI Awards $75.7 Million for Shanghai Brain Disease Institute

The Tianqiao and Chrissy Chen Institute has announced a 500 million RMB (nearly $75.7 million) commitment to establish a nonprofit brain disease institute in Shanghai.

The commitment includes an initial gift of approximately $7.57 million (RMB 50 million) to create the Tianqiao and Chrissy Chen Institute for Brain Disease, a partnership between TCCI, Fudan University-affiliated Huashan Hospital, and the Zhou Liangfu Foundation. According to Forbes, Tianqiao Chen aims to foster collaborations between the new institute, which will focus on strengthening translational brain research, and the institute he established at the California Institute of Technology, which does not have a hospital or medical school.

Chen made his fortune, estimated at more than $1.5 billion, with a games development corporation but had to leave his role as CEO after a series of panic attacks. He has since transformed the company, Shanda Interactive, into a private investment firm.

"We think it's the right timing for us to support the brain," Chen told Forbes before the announcement. "Many people suffer from brain disorders, and with the aging population, more people suffer from Alzheimer's and Parkinson's disease."