Corporate Banner
Satellite Banner
Biomolecular Screening
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Harvard Announces $50 Million Gift from the Blavatnik Family Foundation

Published: Wednesday, May 01, 2013
Last Updated: Wednesday, May 01, 2013
Bookmark and Share
Blavatnik Biomedical Accelerator will be a catalyst to transform basic scientific discoveries into new therapies and cures.

The Blavatnik Family Foundation, headed by Len Blavatnik (M.B.A. ’89), has donated $50 million to Harvard University. The gift will launch a major initiative to expedite the development of basic science discoveries into new breakthrough therapies for patients and cures for disease. The gift underpins Harvard’s growing commitment to creating an entrepreneurial culture in the life sciences.

Support for early-stage research and new inventions is vital to bridge the most challenging obstacle in university technology development, known as the “development gap”—the period of validating and building value around early-stage technologies, making them ripe for partnering with industry. The Blavatnik Biomedical Accelerator will identify early-stage, highly promising technologies, upgrade their value, and prepare them for licensing and commercial development.

The gift will also create the Blavatnik Fellowship in Life Science Entrepreneurship Program at Harvard Business School (HBS) to provide MBA students with experience in life science entrepreneurship through exposure to the biomedical projects supported by the Accelerator.

Len Blavatnik, a longtime supporter of Harvard and a widely respected business leader, entrepreneur, and philanthropist, is well known for his interest and investments in the nexus between scientific innovation and business. Through the Blavatnik Family Foundation, he has supported leading educational, scientific, cultural, and charitable institutions throughout the world, including the University’s original 2007 Biomedical Accelerator Fund.

“By partnering with Harvard’s world-class biomedical research division, I am delighted to help accelerate the development of new therapies,” said Mr. Blavatnik. “Moreover, by increasing the collaborative efforts between Harvard Business School and Harvard’s scientific community, we will empower the next generation of life science entrepreneurs and provide a further catalyst for innovation and research development.”

In welcoming the $50 million gift, Harvard President Drew Faust highlighted Mr. Blavatnik’s commitment to innovation and transformational science. “Len Blavatnik’s passionate support of entrepreneurship and science as forces for progress reflects the forward-thinking leadership that will allow Harvard and others to develop promising new technologies that benefit society as a whole,” said Faust. “The Blavatnik Biomedical Accelerator and the integrated cross-university partnership it enables will advance the next great breakthroughs in biomedical technology, with its roots at Harvard.”

HBS Dean Nitin Nohria added, “By bringing together expertise and experience from across Harvard, the Accelerator and the HBS Fellows program will further enhance Harvard’s commitment to innovative research and entrepreneurship. With student interest in entrepreneurship at an all-time high and with the resources of the University’s Innovation Lab and HBS’s Arthur Rock Center for Entrepreneurship at the ready, we are well positioned to make the most of this generous gift from the Blavatnik Family Foundation.”

The Blavatnik Biomedical Accelerator will be operated within the University’s Office of Technology Development. It builds upon the success of the first Biomedical Accelerator Fund— created five years ago by Isaac T. Kohlberg, the University’s senior associate provost and chief technology officer—which was also funded in part with support from the Blavatnik Family Foundation. The original Accelerator Fund has funded 37 projects, half of which are already advancing through alliances with biopharmaceutical partners or the creation of new companies. The expanded Accelerator program will focus particularly on therapeutic opportunities. It is structured to become self-sustaining, ensuring that over the long term, Harvard will remain at the forefront of life science research.

“The Blavatnik Biomedical Accelerator will enhance the value proposition of early-stage technologies and expedite the flow of Harvard inventions through key developmental milestones and into the marketplace,” said Kohlberg. “Some of the most important therapies and technologies in existence today originated from alliances between academia and the life sciences industry, and we look forward to many more in the years ahead.”


Further Information

Join For Free

Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 3,200+ scientific posters on ePosters
  • More than 4,600+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

A New Platform for Discovering Antibiotics
Harvard chemists hope to shorten time, difficulty in measuring their effectiveness, potential.
Monday, May 23, 2016
New Weapon Against Breast Cancer
Molecular marker in healthy tissue can predict a woman’s risk of getting the disease, research says.
Thursday, April 07, 2016
Collaboration to Develop Cancer Therapeutics
Major license agreement with Merck, enabled by Blavatnik Biomedical Accelerator, aims to develop therapy for most common form of acute leukemia.
Tuesday, March 22, 2016
Seeing Hope
Gene therapy/drug combo restores some vision in mice with optic nerve injury.
Wednesday, January 20, 2016
Inroads Against Leukaemia
Potential for halting disease in molecule isolated from sea sponges.
Thursday, October 01, 2015
Delivering Hope in Ovarian Cancer
Gene therapy blocked chemoresistant tumor growth in mice.
Tuesday, August 11, 2015
Zebrafish Reveal Drugs that may Improve Bone Marrow Transplant
Compounds boost stem cell engraftment; could allow more matches for patients with cancer and blood diseases.
Monday, July 27, 2015
The Secrets of Secretion
Researchers have hacked nature's blueprints to create a new technology that could have broad-reaching impact on drug delivery systems and self-healing and anti-fouling materials.
Tuesday, June 23, 2015
Beyond Average
Researchers have created new platforms to genetically barcode tens of thousands of cells at a time allowing unprecedented detail to be uncovered when studying whole tissue samples.
Tuesday, May 26, 2015
One Molecule at a Time
The ability to study single molecules provides tangible targets for personalised medicine.
Monday, May 18, 2015
New Technique Diagnoses Cancer from Bodily Fluids
Harvard researchers contributed machine learning techniques to improve UCLA diagnostic tool.
Tuesday, November 26, 2013
Malaria in 3-D
Advanced imaging aids study of cell movement.
Tuesday, November 26, 2013
A Marker for Breast Cancer
Research says it soon may be possible to gauge individual risk for disease, and eventually to treat it.
Tuesday, August 13, 2013
Scientific News
Platelets are the Pathfinders for Leukocyte Extravasation During Inflammation
Findings from the study could help in the prevention and treatment of inflammatory pathologies.
Benchtop Automation Trends
Gain a better understanding of current interest in and future deployment of benchtop automated systems.
Molecular Map Provides Clues To Zinc-Related Diseases
Mapping the molecular structure where medicine goes to work is a crucial step toward drug discovery against deadly diseases.
Genetic Research Can Significantly Improve Drug Development
With drug development costs topping $1.2bn (£850 million) to get a single treatment to the point it can be sold and used in the clinic, could genetic analysis save hundreds of millions of dollars?
New Method Opens Door to Development of Many New Medicines
Findings from TSRI reveal human proteins are better drug targets than previously thought.
Diagnosing Systemic Infections Quickly, Reliably
Team develop rapid and specific diagnostic assay that could help physicians decide within an hour whether a patient has a systemic infection and should be hospitalized for aggressive intervention therapy.
What Makes a Good Scientist?
It’s the journey, not just the destination that counts as a scientist when conducting research.
Blood Test That Detects Early Alzheimer’s Disease
A research team, led by Dr. Robert Nagele from Rowan University School of Osteopathic Medicine and Durin Technologies, Inc., has announced the development of a blood test that leverages the body’s immune response system to detect an early stage of Alzheimer’s disease – referred to as the mild cognitive impairment (MCI) stage – with unparalleled accuracy.
A New Approach to Chemical Synthesis
Communesins, originally found in fungus, could hold potential as cancer drugs.
Angina Drug Could Inform A New Strategy To Fight Cryptococcosis
A drug, more commonly used in the treatment of angina, could be the focus of a new strategy in fighting the fatal fungal infection cryptococcosis.
SELECTBIO

SELECTBIO Market Reports
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
3,200+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,600+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!