History
Until the 1970s the Institute maintained laboratories and conducted research on infectious disease and vaccines. It was funded by manufacturing and selling vaccines.
In the 1970s the Institute ran into financial difficulties. It had continual annual deficits, plus the need for major expenditure to modernise the Elstree, Hertfordshire, production facilities. Professor Albert Neuberger became involved as chair of governing body in 1973-74, at which point he became aware of the difficult financial problems. The endowment funds were insufficient to cover their requirements and it failed to get Government support. Neuberger came to the conclusion that within five to six years it would be bankrupt and he persuaded colleagues to dissolve the Institute. He persuaded Westminster Council to change the use of buildings. The Chelsea laboratories were closed in 1975 and Elstree in 1978. The assets were sold, the most valuable being the Chelsea site.
This raised enough money to annually endow a number of Senior Research Fellowships, which is the Institute's legacy. From that point it became a science funding body, and it now awards the Lister Institute Research Prize Fellowships to researchers working on infectious disease in the United Kingdom. The Institute's assets in 2010 amounted to about £33m.
Read more about this topic: Lister Institute Of Preventive Medicine
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