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Stem Cell Research Effort Gets $30M Boost

Billionaire philanthropist T. Denny Sanford has offered up $30 million to a consortium of San Diego researchers to hasten the pace of stem cell research.

Sanford, a resident of Sioux Falls, S.D. who made his fortune as the owner of First Premier Bank and Premier Bankcard, donated the money to support the San Diego Consortium for Regenerative Medicine, a nonprofit group comprised of life sciences research leaders Burnham Institute for Medical Research, Salk Institute for Biological Studies, The Scripps Research Institute and UC San Diego. In recognition of the donation, the consortium changed its name to the Sanford Consortium for Regenerative Medicine.

“The fact that Denny Sanford chose to make such a substantial donation to the Sanford Consortium speaks volumes about the quality research that scientists from our four member institutions bring to the table,” said Edward Holmes, president and chief executive of the consortium. “This facility will allow for faster and smarter research to take place by providing a venue for collaboration.”

The gift provided by Sanford, combined with a $43 million major facilities grant awarded by the California Institute for Regenerative Medicine earlier this year, will help build and equip a shared stem cell research facility near UC San Diego on the Torrey Pines mesa.

Sanford has donated significantly to health and science ventures in the past. He made a $400 million donation to Sioux Valley Hospitals and Health Systems, which promptly became Sanford Health. He also donated $70 million to South Dakota for the Sanford Science Center.

He has funded San Diego research before, with a $20 million gift to the Burnham Institute for Medical Research for the Sanford Children’s Health Research Center.

Sanford has been listed on the Chronicle of Philanthropy’s list of top donors and BusinessWeek’s “50 Most Generous Philanthropists” list.

, Heather Chambers

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