- Citadel and Citadel Securities partners will donate $5 million to four New York City hospitals as they respond to the coronavirus.
- The funds will go to Mount Sinai, NYU Langone, The Rockefeller University, and Will Cornell Medicine.
- The donation will help the hospitals with programs like immunity initiatives for healthcare workers, and drug efficacy tests.
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The partners of Citadel and Citadel Securities will donate $5 million of their personal funds to four New York City hospitals to help them advance coronavirus initiatives like testing, immunity, and drug efficacy programs, the hedge fund told Business Insider.
The donation will go to Mount Sinai, NYU Langone, The Rockefeller University, and Weill Cornell Medicine.
"These initiatives represent the top scientific priorities for these leading medical institutions and have the potential to transform the local and national response to this pandemic, ultimately saving lives and positioning individuals to safely return to society and the workplace," Citadel told Business Insider.
Mount Sinai and NYU Langone will use the funds to develop initiatives around immunity in people who have been infected and recovered from COVID-19. NYU Langone will also boost safety and triage staffing with the funds.
Rockefeller is working toward testing the use of plasma and antibody transplants from people who have recovered from the virus as a method for disease treatment for critically ill patients and prevention for healthcare workers.
Weill Cornell is developing a rapid-response testing program, aiming to test 100,000 people per day nationally. The funds will also help Weill Cornell run efficacy tests for drugs like hydroxychloroquine as a possible way to prevent infection.
Citadel CEO Ken Griffin told employees of the $30 billion hedge fund in a memo last week that the coronavirus is "an unprecedented moment of global distress as the entire world faces this common invisible threat." You can read the full memo here.
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