U. of Minnesota and Mayo Clinic Form State-Sponsored Biotech and Medical Genomics Partnership

NEW YORK, April 18 - With at least $72 million in funding from the state of Minnesota, The University of Minnesota and Mayo Clinic will embark on a multi-year biotechnology research partnership, Governor Tim Pawlenty of Minnesota said yesterday.

The initiative, called "Minnesota Partnership for Biotechnology and Medical Genomics," aims to promote joint research collaborations, initially in the areas of cancer, neurological disease, and heart disease.

Over the next two years, the state will provide $2 million in seed funding, matched by another $2 million from the university and Mayo Clinic. The state will finance an additional $70 million over five years to support research investments.

Moreover, the two institutions hope to raise money through a capital bonding proposal they plan to submit to the state this summer. This would be used to build a $30 million research center for genomics and bioinformatics on the Mayo Clinic campus in Rochester.