The Coulter Foundation—named for Wallace Coulter, an inventor who discovered a way to assess microscopic particles by using his own blood—recently announced a greater financial commitment to UVA’s biomedical engineering program, which received a $5 million grant from the foundation in 2005. According to a news release, UVA and the Coulter Foundation will pair $10 million commitments to create a translational research partnership, to strengthen the links between biomedical engineers, clinical trials and the commercialization process.
The UVA Coulter Translational Research partnership—funded by a $10 million grant from Coulter, and matched by $10 million from UVA’s endowments—makes the University "a global destination for biomedical innovation," says Vice President for Research Thomas Skalak. According to a news release, UVA hopes to attract another $10 million in funds to support funding for 10 to 12 projects annually.
UVA researchers have previously used Coulter funds to support tissue engineering research and start-ups like HemoSonics, founded by a UVA engineer who invented technology to evaluate blood clotting. The University estimates that Coulter funds have launched five startup companies and attracted more than $30 million in grants, private investments and venture capital.