Dinesh Patel also named Chair of College of Pharmacy’s fundraising drive.
By Deepak Chitnis
WASHINGTON, DC: Dr. Dinesh and Kalpana Patel have donated one million dollar to the University of Michigan’s College of Pharmacy. The donation will be used to support students in the University’s pharmacy graduate program.
Dinesh Patel, a renowned pharmaceutical and biotechnology scion in the Salt Lake City area, was also named as the chair of the College of Pharmacy’s $20 million funding drive.
“I am grateful to the University of Michigan for my education,” said Patel in a press release put out by the University of Michigan, “and am proud to contribute both resources and leadership to the campaign.”
The fundraising drive was part of a larger one entitled “The University of Michigan Victors for Michigan Campaign,” which aims to raise $4 billion for the university and its various programs, both undergraduate and graduate. It is the largest such undertaking ever by the University.
The $1 million will also go toward the Chhotubhai and Savitaben Patel Fellowships, established by \ Patel and his brothers in 2005 at the University.
A native of Zambia, Africa, Patel earned his bachelor’s degree in pharmacy, from Gujarat University, followed by his master’s degree from the Philadelphia College of Pharmacy. In 1979, he earned his Ph.D. in pharmacy from the University of Michigan.
Patel has become known across the country for his business ventures. He is the co-founder of vSpring Capital, a Salt Lake City-based investment firm in which he is currently the founder emeritus (it is now known as Signal Peak Ventures). He is also a primary angel investor in at least 20 IT and biotechnology companies, such as TheraTech and Ashni Naturaceuticals, the latter of which Patel was formerly CEO.
Additionally, Patel holds 15 patents in both the US and abroad. In 2006, he was awarded Utah Technology Council Hall of Fame Award and the Ellis Island Medal of Honor. In 2009, he received the University of Michigan’s College of Pharmacy’s Alumni Distinguished Lifetime Achievement Award, and last year, he was awarded the Utah Life Science Award from BioUtah.
To contact the author, email to deepakchitnis@americanbazaaronline.com