Published on : Dec 04, 2014
The “Innovation Engine” received a US$100 million fund in the effort to create innovation at the UNC Eshelman School of Pharmacy, reported Chapel Hill, The University of North Carolina on Wednesday.
The donation is contributed from a 1972 graduate - Fred Eshelman who is also the founder of the Pharmaceutical Product Development and Furiex Pharmaceuticals. The money is intended to create the Eshelman Institute for Innovation at the school.
Carol L Folt, UNC chancellor expressed his gratitude and thanked Dr. Eshelman’s generosity and vision on this project. According to the chancellor, new public-private collaborative investments such as the “Innovation Engine” are the key to a bright future of innovation at North Carolina. Dr. Eshelman is creating opportunities for school leaderships and creating an innovative space for the leaders of tomorrow, added Carol. Due to his efforts, the university can achieve several missions such as attract the best students and faculty at the university, educate the next generation of leaders to be competitive and fuel economic development from various discoveries in exciting new environments.
Dr. Eshelman’s previously donated amount was worth US$38 million to the school. He also added that in the past 10 years of his career he has inspired several students, staff and faculty in the School of Pharmacy. The school has created more than 15 emerging companies and 130 patents.
Some of the largest donations to the UNC include William R. Kenan Jr. Charitable Trust in 2001 (US$27 million), David Benjamin Clayton in 1999 (US$28.6 million) and Dennis and Joan Gillings in 2007 (US$50 million).