A former McMaster alumnus has given the university $10 million to fast-track research into a cure for allergies through treatment and prevention.
The school says the funding will establish the Schroeder Allergy and Immunology Research Institute, which will support senior scientists and scholars in allergy investigation.
The donation comes from Walter Schroeder and family, and the money will also help the new facility analyze data from a recent national study following various childhood conditions, including the origins of allergy.
“Our aspiration around food allergy is bold, finding a cure through treatment and prevention,” said Paul O’Byrne, dean and vice-president of McMaster’s Faculty of Health Sciences and a practising respirologist.
“This is a significant boost to the success we’ve had in addressing allergies which impact three in 10 Canadians.”
Schroeder, a ’69 MBA graduate, is best known for founding Dominion Bond Rating Service (DBRS) which grew to the fourth-largest debt rating agency in the world.
After retiring from DBRS, he formed the Schroeder Foundation in 2015, which is committed to improving health care services in Canada.
Schroeder recently received the 2020 International Horatio Alger Award, which recognizes those who encourage young people in Canada to pursue their dreams through higher education. Past inductees include Wayne Gretzky and former Canadian prime minister Brian Mulroney.
McMaster was named Canada’s most research-intensive university in 2020 for the fourth consecutive year, according to the annual ranking of the country’s Top 50 Research Universities.