Best Buy founder gives U $40 million
Courtesy of Josephine Marcotty. Best Buy founder Richard Schulze and his family foundation will give $40 million to University of Minnesota researchers who are intent on finding a cure for Type 1 diabetes, the university announced Thursday.
The money, the second largest gift in university history, will be paid over five years and provide about half the $20 million the university will spend annually on diabetes research. Officials said they hope it will provide the financial boost needed to defeat the disease.
“We must not settle for anything less than a cure,” said Dr. Bernhard Hering, who will head the project. “We only need to declare it possible.”
Schulze and his daughter, Debra Schulze, 40, who has had Type 1 diabetes for 28 years, said they chose the university’s program over a number of other research organizations, both public and private, after studying programs around the world. They chose the university because it seemed to be closest to finding a cure and was less focused on finding new treatments for symptoms, she said.
As many as 3 million people in the United States live with Type 1 diabetes, in which the immune system attacks islet cells in the pancreas, destroying the body’s ability to produce insulin and regulate blood sugar.
December 12th, 2008 at 12:09 pm
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