Philanthropists Joan and Sandy Weill have donated the largest-ever gift to UC San Francisco, according to The Mercury News. The $185 million donation will be used to establish a new institute focused on developing new therapies for brain and nervous system diseases and psychiatric disorders.
The Weills' gift is also one of the largest ever to support the field of neurosciences in the U.S.
The donation will help finance the construction of a new 270,000-square-foot building at UCSF's Mission Bay campus, which will also serves as the headquarters of UCSF Weill Institute for Neurosciences. The new facility will include state-of-the-art research laboratories and clinics for patients with brain and nervous system disorders, according to the report.
"We are extremely grateful to the Weill Family Foundation and Joan and Sandy — not only for the funding they've provided but because they have challenged us to think big," UCSF Chancellor Sam Hawgood said in a statement, according to the report.
Mr. Weill is a former CEO and chairman of Citigroup. Mr. and Ms. Weill were among the first to sign The Giving Pledge in 2010, a commitment by the world' wealthiest people to dedicate the majority of their fortunes to philanthropy. Including the most recent gift to UCSF, the Weills have made more than $1 billion in donations to educational, medical, cultural and arts institutions over the last four decades. Their most notable beneficiaries — Cornell University, Mr. Weill's alma mater — and Weill Cornell Medicine received $600 million in total.