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Sanford-Burnham Receives $100M Donation, Changes Name

NEW YORK (GenomeWeb) – Sanford-Burnham Medical Research Institute announced today that it has received a $100 million donation from real estate developer and philanthropist Conrad Prebys.

In recognition of the donation, the institute also said that it is changing its name to Sanford Burnham Prebys Medical Discovery Institute.

The institute said that the money would help support a 10-year strategic plan, unveiled in early 2014, that is designed to accelerate innovation by "aligning basic biomedical research, translational research, and drug discovery and development."

The donation "enables us to conduct translational research to advance laboratory discoveries and clinic-ready drug candidates further along the development pipeline, progressing toward therapies, preventions, and cures for patients who desperately need them," Sanford-Burnham CEO Perry Nisen said in a statement. "We are profoundly grateful to Conrad Prebys for this extraordinary gift."

Prebys had previously donated $11 million to the institute, including $10 million to fund the Conrad Prebys Center for Chemical Genomics.