PAUL MANNING

In January 2023, Paul Manning and his wife, Diane, donated $100 million to the University of Virginia to create the $350 million Paul and Diane Manning Institute of Biotechnology, which will advance research into new medical treatments like cellular and gene therapies, nanotechnology and immunotherapy. U.Va. began construction on the institute in December 2023; its expected completion is late 2026.

The parents of three U.Va. graduates, the Mannings have contributed more than $6 million toward medical research at U.Va., including a $1 million donation in 2020 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 biotech-focused private equity firm that invests in early-stage pharmaceutical and life sciences companies developing innovative solutions such as gene therapy, targeted therapeutics and genome engineering.

Manning previously served on the UVA Health Foundation’s board of trustees, the board of the university’s President’s Advisory Committee and U.Va.’s strategic planning commission. He remains an active member of the U.Va. community.

Manning served on the executive committee of the university’s Honor the Future fundraising campaign, which raised more than $6 billion, exceeding its $5 billion target. Additionally, in 2023, Manning was appointed to U.Va.’s board of visitors for a four-year term.

A Massachusetts native, he earned a bachelor’s degree in microbiology from the University of Massachusetts Amherst, which awarded him an honorary doctorate in 2024.