INEOS donates £100 million to new Oxford University Institute
The new institute is set to combat the growing global issue of antimicrobial resistance (AMR). The resistance is known as a ‘silent pandemic’, currently causing an estimated 1.5m excess deaths per year.
The new institute will benefit from the expertise and facilities at the world-leading University of Oxford, which played a key role in antibiotics origin and the development of penicillin. The institute will be based between the Department of Chemistry and the new Life and Mind Building, under construction, to create a collaborative link across the sciences.
INEOS is the worlds third largest chemical company, with a turnover of $61bn, employing 26,000 people and with sites in 29 countries, playing a vital role in medical and pharmaceutical sectors.
Read more about the University of Oxford here.
Professor Louise Richardson, Vice Chancellor of the University of Oxford, said:
“This is a wonderfully generous gift for which we are very grateful. It is another example of a powerful partnership between public and private institutions to address global problems. Oxford played a crucial role in the early development of antibiotics, so it is only appropriate that we take the lead in developing a solution to antimicrobial resistance.”
Sir Jim Ratcliffe, Chairman of INEOS said:
“Innovative collaboration between industry, academia and government is now crucial to fight against AMR. INEOS in its 22 years has become the largest private company in the UK, delivering large-scale, ambitious technical projects with impactful results. We are excited to partner with one of the world’s leading research universities to accelerate progress in tackling this urgent global challenge.”
Read more about the new institute here.