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Jim and Virginia Stowers Add More Than $1 Billion in Securities to Endowment of Stowers Institute for Medical Research

boratories headed by independent scientists. Since then, it has recruited five additional scientists to head laboratories, plus two highly ranked experts in bioinformatics and transgenic technology. Offers are pending to leaders of two additional independent research programs.

By the summer or fall of 2002, the Institute expects to have 16 functioning laboratories, each with a team of 5-10 researchers and technicians. When completely operational, the Institute will house at least 50 independent research programs.

Research at the Stowers Institute is focused on understanding the genes and proteins that control how cells in our bodies divide, differentiate, migrate, and die. By studying these fundamental processes in cells, scientists hope to discover how genes cause many diseases, particularly cancer.

In 1994 Jim and Virginia Stowers decided that they wanted to give back something "more valuable than money" to the millions of investors in American Century mutual funds who made their success possible. As cancer survivors, they decided that their fast-growing fortune should be put to work to find the causes of cancer and other gene-based diseases. They chose to put their efforts behind basic research instead of clinical research or medical treatment because they believe that basic research has the greatest potential for definitively eliminating the threat of many diseases.

Starting with an initial gift of $50 million, they created the Stowers Institute as a nonprofit, medical research organization. Then, they bought the 10-acre site formerly occupied by Menorah Hospital. Construction of the 600,000-square foot complex began in early 1998. The Stowers also followed their initial gift with various other gifts of stock and cash that raised the Institutes endowment above $500 million prior to the latest gift.

At the beginning of 1998, the banking firm of J.P. Morgan purchased 45 percent of American Century Co
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Contact: Kerry O'Connor
kao@stowers-institute.org
816-926-4138
Stowers Institute for Medical Research
10-May-2001


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