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Broad Founders Give Institute Second $100M Gift; Lander Calls Cash Vote of Confidence

NEW YORK, Nov. 30 (GenomeWeb News) - The Broad Institute has received a second $100 million gift from institute founders Eli and Edythe Broad, the center said yesterday. 

 

The Broad founders helped found the institute 18 months ago with an original $100 million gift.

 

According to The Broad, the combined gift will be doled out in $20-million blocks over the next 10 years. Eli Broad said that the couple decided to double the institutes funding because they were impressed by the "tremendous progress already made by the scientists and by the success of the new model for collaborative

science involving Harvard and MIT."

 

Eric Lander, founding director of the institute, called the gift a "vote of confidence."

 

The Broad also said that a new Broad Institute building, located at 7 CambridgeCenter in

Kendall Square
in Cambridge, Mass. is scheduled for completion in Spring 2006. In July, the institute said the center would be completed in January 2006.

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