Due to the tough times, the EU's largest biomedical research charity, the Wellcome Trust, has lost £2 billion in assets, and is therefore cutting its funding for grants by £30 million.
Wellcome Trust's Gibbs Building
In linkurl:a statement,;http://www.wellcome.ac.uk/News/2009/News/WTX053144.htm the charity announced: "Over the next financial year we will commit around £590 million to support biomedical research in the UK and internationally, as compared to £620 million in 2007/08." The charity says it will also continue to fund large-scale "strategic" projects. Wellcome's asset base has shrunk from £15.1 billion to £13.1 billion. This belt-tightening will undoubtedly steepen competition for funding, reported linkurl:Science Business.;http://bulletin.sciencebusiness.net/ebulletins/showissue.php3?page=/548/3248/12815 In response, the Trust said it will "continue to prioritise funding the brightest people and the best ideas." Image courtesy of Wikipedia.
**__Related stories:__***linkurl:How to spend the NIH stimulus;http://www.the-scientist.com/blog/display/55413/
[11th February 2009]*linkurl:NIH boost passed in Senate;http://www.the-scientist.com/blog/display/55411/
[10th February 2009]*linkurl: London gets new neuro institute;http://www.the-scientist.com/blog/display/54941/
[21st August 2008]

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