Wellcome Foundation
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| Founded | 1936 |
|---|---|
| Founder | Sir Henry Wellcome |
| Registration no. | 210183 |
| Focus | Biomedical Research |
| Headquarters | Wellcome Building, 215 Euston Rd., London, United Kingdom, NW1 2BE |
| Location | |
| Coordinates | 51°31′32.55″N 0°8′6.07″W / 51.5257083°N 0.1350194°W |
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Area served
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United Kingdom and overseas |
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Key people
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Baroness Eliza Manningham-Buller (Chair) Dr Jeremy Farrar (Director) |
| Disbursements | £11 billion (1936-2015) |
| Endowment | £20.9 billion |
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Employees
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2,057 |
| Slogan | Good health makes life better. We want to improve health for everyone by helping great ideas to thrive. |
| Website | www |
The Wellcome Trust is a biomedical research charity based in London, United Kingdom. It was established in 1936 with legacies from the pharmaceutical magnate Sir Henry Wellcome to fund research to improve human and animal health. The aim of the Trust is to "achieve extraordinary improvements in health by supporting the brightest minds", and in addition to funding biomedical research it supports the public understanding of science. It has an endowment of around £20.9 billion.
The Trust has been described by the Financial Times as the United Kingdom's largest provider of non-governmental funding for scientific research and one of the largest providers in the world. In the field of medical research, it is the world's second-largest private funder after the Bill & Melinda Gates Foundation.
The Trust was established to administer the fortune of the American-born pharmaceutical magnate Sir Henry Wellcome. Its income was derived from what was originally called Burroughs Wellcome, later renamed in the UK as the Wellcome Foundation Ltd. In 1986, the trust sold 25% of Wellcome plc stock to the public. Overseen by incoming Director of Finance Ian Macgregor, this marked the beginning of a period of financial growth that saw the Trust's value increase by almost £14bn in 14 years, as their interests moved beyond the bounds of the pharmaceutical industry.
In 1995, the trust divested itself of any interest in pharmaceuticals by selling all remaining stock to Glaxo plc, the company's historic British rival, creating GlaxoWellcome plc. In 2000, the Wellcome name disappeared from the drug business altogether when GlaxoWellcome merged with SmithKline Beecham, to form GlaxoSmithKline plc.
The Trust funds or co-funds a number of major biomedical research initiatives:
Also known as SDDI, this five year initiative started in October 2005 with the remit "to facilitate the development of drug-like small molecules that address unmet medical needs." SDDI was based in London and managed by Richard Davis. Through early 2010, SDDI had provided more than £80 million across 30 projects split between academic institutions and companies. To early 2010, all but one of the company recipients were either start-ups or spin-outs. In May 2010, an additional £110 million was added to the SDDI fund with the intent to extend the initiative for an additional 5 years.
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Wikipedia