Vertex Announces 10-Year, $500 Million Corporate Giving Commitment
October 17 2017 - 6:15AM
Business Wire
Dedicates $50M to science, technology,
engineering, arts and math (STEAM) education for underserved
students and establishes The Vertex Foundation
Expands global efforts for providing patient
and caregiver support including access to our medicines; developing
young scientists and physicians; and strengthening our
communities
Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today
announced a 10-year, $500 million corporate giving commitment
focused on providing patient and caregiver support including access
to our medicines; expanding our commitment to science, technology,
engineering, arts and math (STEAM) education; developing young
physicians and scientists; and investing in our communities. $50
million of this giving will be dedicated to STEAM education,
particularly for underserved students and young women. As part of
this commitment, the company will establish The Vertex Foundation,
a 501(c)(3) organization and long-term source of charitable giving,
with an initial contribution of $10 million. The Vertex Foundation
will support, among other initiatives, a new dollar-for-dollar
matching gifts program to extend the impact of employee donations
to qualified non-profit organizations.
In addition, Vertex will extend for another 10 years its
successful collaboration with the Boston Public Schools (BPS) to
ensure that BPS students continue to have ongoing access to
Vertex’s 3,000 square foot learning lab, mentoring and internship
opportunities with Vertex scientists and full four-year
scholarships to the University of Massachusetts each year.
“Giving back is part of who we are at Vertex – it’s in our DNA,”
said Dr. Jeffrey Leiden, President, Chairman and Chief Executive
Officer of Vertex. “This new 10-year commitment will provide many
more opportunities for Vertex and its employees to make a
difference in the lives of people with serious diseases and those
living in our communities.”
"For Vertex, innovative ideas that transform lives have never
been restricted to lab rooms,” said Congressman Joe Kennedy III.
“With this investment in their neighbors, patients, and local
students, Vertex can both strengthen their community today and
expand our Commonwealth's workforce of tomorrow."
“In Boston, we are lucky to have companies like Vertex stepping
up and contributing to our city and our future workforce,” said
Boston Mayor Martin J. Walsh. “This commitment will mean thousands
of students across the City will continue to have the opportunity
to get hands-on experiences in STEAM and see a place for themselves
in Boston’s thriving innovation economy.”
Vertex’s corporate giving commitment will focus on the
following:
- The cystic fibrosis (CF) patient
community globally, including enabling access to our
medicines;
- STEAM education, focused on underserved
students and young women;
- Developing young physicians and
scientists; and
- Strengthening our local communities,
including fostering the innovation ecosystem and supporting youth
health and wellness.
The Vertex Foundation will launch in 2018.
About VertexVertex is a global biotechnology company that
invests in scientific innovation to create transformative medicines
for people with serious and life-threatening diseases. In addition
to clinical development programs in CF, Vertex has more than a
dozen ongoing research programs focused on the underlying
mechanisms of other serious diseases.
Founded in 1989 in Cambridge, Mass., Vertex's headquarters is
now located in Boston's Innovation District. Today, the company has
research and development sites and commercial offices in the United
States, Europe, Canada and Australia. Vertex is consistently
recognized as one of the industry's top places to work, including
being named to Science magazine's Top Employers in the life
sciences ranking for seven years in a row. For additional
information and the latest updates from the company, please visit
www.vrtx.com.
For Funding Requests please visit
https://www.vrtx.com/giving-back.
(VRTX-GEN)
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VertexMedia:Heather Nichols,
617-341-6992mediainfo@vrtx.comorInvestors:Michael Partridge,
617-341-6108orEric Rojas, 617-961-7205orZach Barber,
617-341-6470
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