Penn gets $50 million gift

June 3, 2008 10:59:49 AM PDT
The University of Pennsylvania has received a $50 million gift to help build a medical research facility.

The donation comes from Anne and Jerome Fisher. Jerome Fisher is the founder and chairman emeritus of the Nine West Group Inc., which makes women's shoes and accessories.

The money will go toward construction of an eight-story biomedical-research center dedicated to translational medicine.

Translational medicine emphasizes an accelerated pace for converting laboratory discoveries into medical therapies.

The donation is one of the largest gifts in Penn's history and the second-largest to Penn's medical system.

The building on Penn's campus in West Philadelphia is slated to open in 2010.