May 31, 2007

Minnesota Partnership Awarded $25 Million - State endorses continued funding

ROCHESTER/MINNEAPOLIS, Minn. -- The Minnesota legislature has approved $25 million in biennial funding for the Minnesota Partnership for Biotechnology and Medical Genomics and committed $8 million for each of the following two years. Governor Tim Pawlenty signed the bill yesterday.

The funding will directly support scientific research on diseases impacting Minnesotans and help recruit top scientists to Minnesota.

"We thank the Legislature and Governor Pawlenty for their continued support," says Glenn Forbes, M.D., Mayo Clinic Rochester CEO. "This is a solid base on which to build for the future. We fully intend to leverage this state investment with federal, philanthropic and corporate support to take the Minnesota Partnership to the next level of success."

"Minnesota must be bold and build upon its assets in order to ensure a strong future for our bioscience industry. Given the wealth of outstanding biomedical research projects, this partnership is making a difference in some of the most important areas of medicine," says Frank Cerra, M.D., Senior Vice President for Research, University of Minnesota. "The state is a real partner in our efforts and continues to demonstrate confidence and commitment to advancing important health discoveries for the people of Minnesota."

The Partnership began in 2003 with an initial state grant of two million dollars, matched by Mayo Clinic and the University. The state invested an additional $15 million in both 2005 and 2006. The state issued $21.7 million in bonds that helped construct the Minnesota Partnership research facility in Rochester. The Partnership has, in return, initiated 30 separate research projects and infrastructure or commercialization initiatives. It is actively recruiting four scientists to Minnesota and is seeking applications for new research ideas from the two partnering institutions. Specific information about the Partnership research efforts can be found at www.minnesotapartnership.info.

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The Minnesota Partnership is a collaborative research initiative among the University of Minnesota, Mayo Clinic and the State of Minnesota. It joins the investigative strength of Minnesota’s two internationally recognized academic medical centers to bring new treatments to the people of Minnesota and help improve the state’s economy.