Morgan Stanley GIFT Cures is a philanthropic collaboration with
Harrington Discovery Institute
NEW YORK–(BUSINESS WIRE)–Morgan Stanley today announced the launch of Morgan Stanley GIFT Cures℠
powered by Harrington Discovery Institute, the first special
interest program of The Morgan Stanley Global Impact Funding Trust
(Morgan Stanley GIFT) that is dedicated to advancing the development of
research discoveries into new cures and treatments for a broad range of
diseases. The launch was announced at The Exchange 2019 in New York, a
two-day conference, June 4-5, hosted by Morgan Stanley and Social Impact
Exchange.
“We are excited to join forces with Harrington Discovery Institute,”
said Mandell Crawley, Head of Morgan Stanley Private Wealth Management.
“Sadly, there are far too many families around the world that are
impacted by a disease that has no cure or meaningful treatment,
including many of the most common diseases affecting our society. The
Morgan Stanley GIFT Cures program was formed to address unmet medical
need by helping to create new medicines.”
Through a competitive application process, Harrington Discovery
Institute sources the most promising research from leading academic
institutions across the U.S., Canada and the UK that target novel
therapeutic approaches in any disease area. The combination of
Harrington Discovery Institute and Morgan Stanley GIFT Cures will help
provide the catalytic capital, expertise and management needed to
connect strategic philanthropists to drug discovery projects and medical
breakthroughs with the greatest potential for near-term impact.
“With nearly two decades of experience working with the Firm’s most
dedicated philanthropists, Morgan Stanley GIFT recognized that medical
philanthropy wasn’t moving the needle for patients and families with
diseases despite the generosity of donors around the world,” said
Melanie Schnoll Begun, Head of Philanthropy Management. “We are pleased
to collaborate with Harrington Discovery Institute to launch Morgan
Stanley GIFT Cures, an innovative special interest program Morgan
Stanley GIFT created in response to client demands for more concrete
results from their philanthropy in the search for cures.”
“Hundreds of millions of people suffer from diseases where cures are not
available, yet the knowledge to develop effective treatments actually
exists,” explains Dr. Jonathan Stamler, President of Harrington
Discovery Institute. “Breakthrough discoveries remain on the shelves of
research institutions because the physicians and scientists making
discoveries lack the drug development expertise needed to translate
their scientific discoveries into new medicines.”
Harrington Discovery Institute was established in 2012 with a $50
million gift from the Harrington Family, medical supply entrepreneurs.
The Institute was founded to create a new system for developing
breakthrough discoveries into medicines, primarily in answer to two
challenges: Why so many promising medical breakthroughs fail to yield
life-enhancing and life-saving new drugs, and where financial and other
resources should be invested to improve and accelerate success.
Seven years later, Harrington Discovery Institute has become the center
of a rapidly growing global initiative to advance the most promising new
therapies through the drug development pipeline.
“We are pleased to collaborate with Morgan Stanley GIFT to grow the
community of philanthropists who are committed to supporting the
development of new medicines. From the start, we knew that strategic
partnerships like this would be instrumental in helping expand
Harrington Discovery Institute’s portfolio of drugs-in-the-making and
increase its impact on human health,” said Ronald Harrington.
The Morgan Stanley GIFT Cures program provides opportunities for
philanthropists to augment the impact of their medically-related giving,
whether they wish to focus on a specific disease or across a broader
spectrum. It is also an opportunity to become part of a donor community
committed to creating the next generation of breakthrough medicines,
including learning best practices in bringing breakthrough therapies to
market and in healthcare giving more broadly.
At launch, the Morgan Stanley GIFT Cures program is funding multiple
programs to advance treatment for:
- Alzheimer’s & Other Neurologic Diseases
- Cancers
- Heart failure and Other Cardiovascular Diseases
- Blindness
- Bone and Joint Diseases
- Diabetes
- Gastrointestinal Diseases
- All Infectious Diseases
- All Rare Diseases
- Asthma and Respiratory Diseases
- Immune and other Disorders
Morgan Stanley GIFT is an independent 501(c)(3) organization that
provides the Firm’s clients access to a donor advised fund, supporting
organizations, other planned giving strategies, client events and
experiences. Established in 2000; total grants to charities have reached
over $1.7 billion since inception. All funds donated to Morgan Stanley
GIFT Cures will be managed within the Morgan Stanley GIFT donor advised
fund to advance Harrington Discovery Institute’s mission of advancing
breakthrough scientific discoveries throughout the U.S. and the UK into
cures.
Morgan Stanley Wealth Management, a global leader, provides access to a
wide range of products and services to individuals, businesses and
institutions, including brokerage and investment advisory services,
financial and wealth planning, cash management and lending products and
services, annuities and insurance, retirement and trust services.
Morgan Stanley (NYSE: MS) is a leading global financial services firm
providing investment banking, securities, wealth management and
investment management services. With offices in more than 41 countries,
the Firm’s employees serve clients worldwide including corporations,
governments, institutions and individuals. For more information about
Morgan Stanley, please visit www.morganstanley.com.
The Harrington Discovery Institute at University Hospitals in Cleveland,
OH – part of The Harrington Project for Discovery & Development – aims
to advance medicine and society by enabling our nation’s most inventive
scientists to turn their discoveries into medicines that improve human
health. The institute was created in 2012 with a $50 million founding
gift from the Harrington family and instantiates the commitment they
share with University Hospitals to a Vision for a ‘Better World’. For
more information, visit www.harringtondiscovery.org.
©2019 Morgan Stanley Smith Barney LLC. Member SIPC
CRC 2559978 6/2019
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Barney LLC (“Morgan Stanley”) and providing you with this information is
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that may be mentioned. In addition, the information and data referenced
is as of the date of the material and subject to change without notice.
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Private Wealth Advisors do not provide tax or legal advice. Clients
should consult their tax advisor for matters involving taxation and tax
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University Hospital of Cleveland, OH is a client of Morgan Stanley. It
is not known whether the client approves of Morgan Stanley or the
advisory services provided. Nothing in this material is intended to
imply any other affiliation, sponsorship, endorsement, approval,
investigation, verification or monitoring of the Harrington Discovery
Institute, University Hospital of Cleveland, OH or any other entity
referenced in this material.
The Morgan Stanley Global Impact Funding Trust, Inc. (“Morgan Stanley
GIFT, Inc.”) is an organization described in Section 501(c)(3) of the
Internal Revenue Code of 1986, as amended. MS Global Impact Funding
Trust (“Morgan Stanley GIFT”) is a donor-advised fund. Morgan Stanley
provides investment management services to Morgan Stanley GIFT.
While we believe that Morgan Stanley GIFT Cures provides a valuable
philanthropic opportunity, contributions to Morgan Stanley GIFT Cures
are not appropriate for everyone. Other forms of charitable giving may
be more appropriate depending on a donor’s specific situation. Of
critical importance to any person considering making a donation to
Morgan Stanley GIFT is the fact that any such donation is an irrevocable
contribution.
Back office administration provided by RenPSG, an unaffiliated
charitable gift administrator.
Contacts
Media Relations: Christine Jockle, 914.225.6827, [email protected]
