University of Virginia’s Biotechnology Institute Secures $100 Million in Historic Funding

he University of Virginia (UVA) announces plans to launch a biotechnology institute, which will receive a $100 million donation from Paul Manning and his wife, Diane. This generous donation is one of the largest private donations in UVA history. The institute will be named the Paul and Diane Manning Institute of Biotechnology. UVA will also contribute $150 million, and the state will make a $50 million initial investment.

The institute will focus on medical research that leads to new treatments. This includes cellular and gene therapy, targeted drug delivery, nanotechnology, and immunotherapy. The facility is planned to open at Fontaine Research Park in Charlottesville in four years. The institute is expected to have a significant economic impact on central Virginia and the Commonwealth. It will attract pharmaceutical and biotech firms and employ hundreds of scientists and support staff.

K. Craig Kent, MD, CEO of UVA Health, called the institute a “historic milestone” for UVA. The investment was made possible with support from Governor Yangqin and other notable members of the General Assembly. Paul Manning leads PBM Capital, an investment firm that specializes in healthcare. He serves on the UVA’s Strategic Planning Committee, the Board of the UVA Health Foundation, and the Board of the President’s Advisory Committee. He graduated from the University of Massachusetts with a BS in Microbiology. The Mannings have long supported UVA and UVA Health’s research initiatives. Their goal is to provide the highest quality healthcare to Virginians and people all over the world.