The CDI represents over a $100 million investment by Hackensack Meridian Health for facilities, faculty recruitment and operations to develop a world-class program in translational research and to complement a separate $100 million investment to renovate, operate and provide scholarships to students at the new Hackensack Meridian School of Medicine at Seton Hall University, which is the first private medical school in New Jersey. The annual research cost for the initial 15 faculty members at the CDI is anticipated to be ~$25 million. The goal of the CDI is to be self-supporting within seven to eight years with a diversified portfolio of revenue encompassing grants from federal agencies and foundations, contracts, revenue from licensing of IP and philanthropy. All faculty are expected to be funded with direct costs covering most, if not all, of science-related activities and indirect costs covering operational expenses of the CDI. An additional $250 million fundraising campaign has been initiated for the Institute for Regenerative Medicine to support the renovation of additional facilities for research, clinical services and faculty recruitment.
If you are interested in learning more about funding opportunities, contact us at info@HMH-CDI.org.