BLAVATNIK FAMILY FOUNDATION GIVES ADDITIONAL $40 MILLION TO YALE INNOVATION FUND

The Blavatnik Family Foundation, whose historic gift in 2016 helped create what has become Yale’s flagship life science accelerator, has made an additional $40 million donation that will increase the number of research awards available to Yale scientists, support a wider range of biomedical innovations, and reach deeper into the Yale community to support new and innovative research. Run by Yale Ventures, a campus-wide initiative that supports innovation at Yale, the Blavatnik Fund for Innovation at Yale creates a bridge between early-stage, innovative research and the development of high-impact biomedical products and health technologies through the support of start-ups and industry partnerships. Since its launch, the Blavatnik Fund for Innovation at Yale has stimulated biomedical entrepreneurship across the Yale community. So far, it has supported 63 distinct projects through more than $20 million in direct funding for research and fellowships. This funding has resulted in the creation of 19 spinoff companies that have raised $254 million in venture and non-dilutive funding, 3 projects that have achieved FDA Investigational New Drug (IND) status, and 4 clinical trials have been initiated.