Morgan Stanley GIFT CuresSM is a philanthropic collaboration with Harrington Discovery Institute.
New York – June 4, 2019 – Morgan Stanley today announced the launch of Morgan Stanley GIFT CuresSM 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 US, 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 MS 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
- Heart failure and Other Cardiovascular Diseases
- Bone and Joint Diseases
- 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 US and the UK into cures.
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Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, investment management and wealth 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.