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Denny Sanford, UC San Diego photo |
The richest man in South Dakota,
a state that looks askance at
human embryonic stem cell research, is giving $100 million to promote
the stem cell field in California.
He is
Denny Sanford, a 77-year-old billionaire who made his
fortune in the credit card business. Sanford is donating the money to
UC San Diego. In a press release from the university, he said,
“I believe we’re on the cusp of turning years of hard-earned
knowledge into actual treatments for real people in need. I want this
gift to push that reality faster and farther.”
The gift is not Sanford's first to stem cell research in the San
Diego area. He gave $30 million to
Sanford Consortium for
Regenerative Medicine in 2008.
The announcement of the $100 million donation is the sort of news
that excites the stem cell field globally but especially in
California, where the state is funding stem cell research to the tune
of $3 billion. The news helps generate optimism about the stem cell
field and can create an environment that could attract more
philanthropy and business investments.
That is not a small matter for the state's stem cell agency, which
will run out of cash for new grants in 2017. Next month, directors of
the agency are scheduled to take their first look at a proposed
strategic roadmap for future funding, which may well involve a
combination of public and private funding.
According to
Gary Robbins of the
San Diego UT, Sanford's latest
gift is part of a $275 million stem cell effort at UC San Diego. Robbins said it will allow the university to hire 20 to 25 scientists, many
of whom will be seeking stem cell agency grants, and also help to
support recruitment of patients for clinical trials. UC San Diego has
already received $138 million in 61 awards from the stem cell agency,
ranking fourth among institutional recipients.
The UC San Diego press release yesterday also quoted
David
Brenner, vice chancellor for health services at the campus and a
member of the California stem cell agency governing board, as saying,
“We are the only academic medical institution in the region with
the scientists, physicians, facilities and clinical delivery system
to bring the promise of stem cell therapies to fruition. No place in
the world has a better chance of success.”
Larry Goldstein, currently director of the UC San Diego stem cell
program, will head the new
Sanford Stem Cell Clinical Center at the
school.
The news coverage on the gift, which
included stories in the Los Angeles Times and other publications, contained a number of mentions of the
state stem cell agency, a plus for the enterprise, which is working
hard to raise its public visibility.
Sanford's latest gift is not his largest. He gave
$400 million to Sanford Health, a diabetes research center in South Dakota in 2009.
He has donated more than $1 billion altogether and intends to give away all his
money by the time he dies.
He likes to say, “Aspire to inspire before you expire.”
Sanford lives in Sioux Falls but has a home in the San Diego area,
where he has long been active in the community as well as in support of
Prop. 71, the measure that created the state stem cell agency in
2004.
Sanford is also a sailor, a particular point of interest for this
writer, who has lived on a sailboat for the last 15 years south of
the border. Sanford has been active in San Diego sailing circles for
some time. But his interest goes back a number of decades. He raced
sailboats on Lake Minnetonka in Minnesota, where he grew up. And in
1973, he received
the Bail Bond Award from the
Wayzata Yacht Club on
Lake Minnetonka for unspecified acts that demonstrated “the greatest love,
spirit, and care for the Wayzata Yacht Club.”