The Blavatnik Family Foundation has announced a $40 million gift to the Blavatnik Fund for Innovation at Yale, a life science accelerator that the foundation helped create in 2016.

The latest gift 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 bolster new and innovative research. The fund creates a bridge between early-stage, innovative research and the development of high-impact biomedical products and health technologies through the support of startups and industry partnerships. Since its launch, the Blavatnik Fund for Innovation at Yale has supported 63 distinct projects with more than $20 million in direct funding for research and fellowships. To date, the funding has resulted in 19 spinoff companies that have raised $254 million in venture and non-dilutive funding, three projects that have achieved FDA Investigational New Drug (IND) status, and four clinical trials.

“By supporting Yale faculty, researchers, and entrepreneurs, the fund has accelerated groundbreaking scientific advances to improve people’s lives,” said Blavatnik Family Foundation founder Len Blavatnik. “I am proud of the fund’s enormously positive impact to date, and I look forward to many future discoveries and developments.”

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