Living Legends 2024: PAUL B. MANNING

In January 2023, Manning and his wife, Diane, donated $100 million to the University of Virginia to create the Paul and Diane Manning Institute of Biotechnology, which will advance research into new medical treatments, such as cellular and gene therapies, nanotechnology and immunotherapy. U.Va. broke ground on the institute in December 2023; its expected completion is late 2026. In 2020, the Mannings donated $1 million to U.Va. to launch a COVID-19 research program.

Manning founded infant formula company PBM Holdings in 1997 and sold it to Perrigo in 2010 for $808 million. He then launched PBM Capital, a health care-focused private equity firm that invests in pharmaceutical and life sciences companies that develop innovative solutions, such as gene therapy, targeted therapeutics and genome engineering.

Manning, who previously served on the UVA Health Foundation’s board of trustees and the university’s President’s Advisory Group, remains an active member of the U.Va. community. He’s on the executive committee of its Honor the Future fundraising campaign, and in 2023, he was appointed to U.Va.’s board of visitors for a four-year term.

Manning earned his bachelor’s degree in microbiology from the University of Massachusetts Amherst.