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Plough
Foundation Awards $4.5 Million Grant to
The
University of Tennessee Health Science Center
College
of Pharmacy
_______________________________________________
Memphis,
Tenn. (March 23, 2010) – The Plough Foundation has awarded a grant of $4.5
million to the University of Tennessee Health Science Center (UTHSC) College of
Pharmacy. The grant will be used to establish
the Plough Center for Sterile Drug Delivery Systems, a more than
5,800-square-foot facility on the sixth floor of the new UT College of Pharmacy
Building. The building is under
construction on the UT-Baptist Research Park, which is adjacent to the UTHSC
main campus.
The Plough Center will serve as an educational hub for
teaching and training pharmacists, pharmaceutical scientists, and highly
skilled employees for the pharmaceutical and biotechnology industry. The Plough Center will also provide an
environment for the development of unique drug products to solve specialized
problems. Funds from the Plough
Foundation grant will cover all project costs for the center including design,
construction and equipment, plus data and telecommunications.
“We view support for this new center
as a clear extension of the goals outlined by Mr. Abe Plough,” said Scott McCormick,
Executive Director of the Plough Foundation.
“He was committed to the idea that the greatest good is done when you
help the greatest number of people. For
generations, the Plough Center for Sterile Drug Delivery Systems will have a
significant measurable impact on education, research, health care for our
citizens, and service to the community.”
McCormick added, “It will also serve as a catalyst for entrepreneurial
endeavors in the local pharmaceutical industry.
That comes full circle to Mr. Plough.”
Abe Plough was a Memphis-area entrepreneur who started his company
in 1908, merging with the Schering Corporation in 1971 to form Schering-Plough. The Plough Foundation is a private
organization that funds a diverse group of non-profit entities that work to
address the many pressing social and economic issues facing Memphis and Shelby
County.
“We appreciate this extremely generous
grant and the synergistic partnership that it symbolizes,” said Dick Gourley,
dean of the UT College of Pharmacy.
“This funding will allow both of our organizations to compound the
impact of our accomplishments for the benefit of our students, industry
professionals and regulators, and the greater Memphis community.”
“We believe a natural congruency exists between the mission
of our organization and the mission of the Plough Foundation,” said Steve Schwab,
MD, interim chancellor for UTHSC. “Both
of our institutions are committed to improving the lives of the citizens of Shelby
County and to constantly striving for positive impact on our community and
region.”
The new UT
College of Pharmacy building is the second building under construction on the
UT-Baptist Research Park, a project that will add more than 1.4 million square
feet of laboratory, research, education and business space in the heart of the Memphis
Medical Center. The more than $65 million
Pharmacy building is scheduled to open in fall 2010 and will consolidate UT College
of Pharmacy faculty and staff who are
currently housed in six different buildings throughout the urban campus.
The building will bring nearly everyone from the college together at the
new site.
The Plough Center for Sterile Drug Delivery Systems will be
designed to develop and manufacture “small molecule*” drug products to treat
cancers, cardiovascular diseases, infectious diseases and other
life-threatening conditions. The center
will enable scientists to increase the number of clinical trials performed
locally, which will be a major positive step toward improved health care in the
region.
Founded in 1898, the UT College of
Pharmacy is the first pharmacy school established in the state of Tennessee and
is ranked 16th out of 115 pharmacy colleges in the nation (April
2009 U.S. News & World Report). With more than 5,300 graduates, the UT
College of Pharmacy has major campus locations in Memphis and Knoxville, and Clinical
Education Centers in Kingsport and Nashville.
Additionally, the college has more than 60 sites across the state for
students to gain experience through community practice and residency, clinical
rotation, and institutional practice and residency. The economic impact of the UT College of
Pharmacy is estimated at $56 million through licensing technologies and
discoveries that fuel the biotech industry in the Mid-South region.
As the
flagship statewide academic health system, the mission of the University of
Tennessee Health Science Center is to bring the benefits of the health sciences
to the achievement and maintenance of human health, with a focus on the
citizens of Tennessee and the region, by pursuing an integrated program of
education, research, clinical care, and public service. Offering a
broad range of postgraduate training opportunities, the main campus is located in
###
* The term “small molecule” refers to a low molecular weight
organic compound, which is by definition not a polymer (a large molecule or
macromolecule composed of repeating structural units typically connected by
covalent chemical bonds).
This study
quantifies the economic impact of the UTHSC on the economy of the state of Tennessee for FY2010.
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