The Ivy Foundation, which dropped $45 million on UVA for a biomedical research facility in 2005, has written another check, this one for a new Biomedical Innovation Fund, which will support five high-risk projects this year with $260,000 in grants. The Ivy Foundation was created in 2000 with funds remaining from the closure of the W. Alton Jones Cell Science Center in Lake Placid, N.Y. According to a UVA release, the fund’s assets increased significantly with the 2004 sale of Upstate Group, a company whose principals included former Board of Visitors member William C. Battle and Sheridan G. Snyder, a 1958 graduate of U.Va.’s College of Arts and Sciences.

Write a letter to the editor