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Ignite Institute Receives Support from Commonwealth of Virginia, Fairfax County, $200 Million in Initial Funding and Financial Backing, Locks in Key Regional Partner
Date:11/16/2009

FAIRFAX COUNTY, Va., Nov. 16 /PRNewswire/ -- Virginia Governor Timothy M. Kaine announced today the Commonwealth's support for The Ignite Institute, a unique non-profit collaborative enterprise, focused on translating innovations in personalized medicine into patient care. The Institute will be located in Fairfax County and has formed a major founding partnership with Virginia's Inova Health System. To date, the Institute has raised more than half of its five-year operating budget. Additional partners will be announced in the coming months as the Institute completes its full start-up financing.

(Logo: http://www.newscom.com/cgi-bin/prnh/20091116/NE11943LOGO )

"The Ignite Institute is transformational for Virginia's positioning as a world-class center of excellence for research and development," Governor Kaine said. "The advanced medical technologies that will be developed at Ignite will be part of the key drivers in our mission to reform and improve America's health care system."

The Institute, which will be based just outside of Washington D.C. in Fairfax County is specifically focused on creating and applying the latest genomic, biomedical and technological innovations to enable truly individualized health care on a population-wide basis. The Fairfax County Economic Development Authority worked with the Virginia Economic Development Partnership to prepare the state's proposal to secure the project for Virginia, and also to secure financing for the state-of-the-art 300,000 square foot research building.

Leading genomic researcher and Ignite Founder and CEO, Dietrich Stephan, Ph.D., was also appointed as Executive Director of the Translational and Personalized Medicine Center at Inova. The Inova partnership, which includes a $25 million funding commitment from one of the Mid-Atlantic region's largest he
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SOURCE Ignite Institute
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