Inova partners with U.Va. on research institute
The University of Virginia and Falls Church-based Inova Health System have formed a partnership that will include a $112 million research institute and a regional medical school campus in Northern Virginia.
Leaders from the two institutions say they expect to finalize a definitive agreement later this year.
“U.Va. is one of the most prestigious research universities in the country, and Inova is one of the largest, most successful health-care systems,” Knox Singleton, Inova’s CEO, said in a statement. “This partnership leverages the complementary strengths of two institutions committed to providing the most advanced treatments and prevention strategies to the communities we serve.”
Gerald L. Gordon, president and CEO of the Fairfax County Economic Development Authority, praised the deal.
“This new relationship is yet another step toward Fairfax County becoming a center for medical innovation and our goal of diversifying the economic base of the county,” he said in a statement.
The institutions will collaborate on research, medical education, and the recruitment of researchers, scientists and investigators to Virginia.
The planned partnership includes:
- The development of the Global Genomics and Bioinformatics Research Institute at the Inova Center for Personalized Health in Fairfax, a 117-acre former Exxon Mobil campus across the street from Inova Fairfax Hospital. Inova bought the property last year for $180 million. The new institute will recruit researchers, scientists and investigators who will collaborate on research focused on genomics, functional biology, bioinformatics, biologically driven engineering, precision medicine, translational research, development of targeted therapeutics and commercialization of new discoveries. The Virginia General Assembly allocated $28 million in funding for the institute; U.Va. is contributing $28 million and Inova is providing $56 million.
- A cancer research partnership between the Inova Schar Cancer Institute and U.Va. Cancer Center, including efforts to achieve designation by the National Cancer Institute as a Comprehensive Cancer Center.
- A regional campus of the U.Va. School of Medicine at Inova, which would enable U.Va. medical students to complete their clerkship and post-clerkship education in Northern Virginia at Inova facilities.
- U.Va. and Inova will explore the creation of a biomedical investment vehicle to advance discovery through to commercialization.
Inova serves more than 2 million people each year. Its facilities include five hospitals with more than 1,700 licensed beds and 16,000 employees.