ISB Nabs $6M Gift From VC
Luke Timmerman3/8/10
The Institute for Systems Biology, a Seattle-based nonprofit research center, said today it has received a five-year $6 million gift from a venture capitalist in California who wishes to remain anonymous. The money will be used to help the Institute move to a new facility that’s twice as large as its current location, to recruit new faculty members, and provide unrestricted support for its research into personalized medicine, biofuels, and global health. The Institute, co-founded by biotech pioneer Leroy Hood in 2000, has grown rapidly with a budget that now exceeds $50 million a year, largely because of increasing grant support and recognition of its scientific impact.
Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.
