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.