$20M gift from Maxine and Stuart Frankel Foundation to fund innovative research
Gift will establish the Frankel Innovation Initiative to accelerate commercialization of life-saving therapies
The University of Michigan has received a $20 million gift from the Maxine and Stuart Frankel Foundation of Bloomfield Hills, Michigan, to support the research and development of life-saving therapies at Michigan Medicine in collaboration with other institutions. The gift, which will be used to establish the Maxine and Stuart Frankel Innovation Initiative, will advance U-M faculty-led, collaborative projects that have the potential for rapid clinical application.
“Maxine and Stuart Frankel’s gift will ensure that the University of Michigan advances its leadership in cutting-edge research that saves lives in our communities,” said U-M President Mark Schlissel. “The gift will help us translate scientific discoveries into treatments that can reach patients in need. I appreciate the Frankels’ generosity and their commitment to both innovation and U-M’s very special role as a top public university.”
The Initiative will build on best practices of the standout programs developed at U-M and other top institutions, capitalizing on the university’s extensive biomedical research enterprise as the top public university in research spending in the United States.
Read more about the foundation’s gift, and view a short video about this exciting new initiative, in the Michigan Medicine Newsroom.