Uji Capital's Broderick Donates $9M To Harvard, MIT For Cannabinoid Research

Harvard and MIT will receive $4.5 million each for cannabinoid research. The donation comes from the universities' alumnus Charles Broderick, the managing director of Uji Capital, a New York family office with extensive investments in the cannabis industry.

What Happened

Harvard Medical School said it will use the donation to create the Charles R. Broderick Phytocannabinoid Research Initiative.

The initiative will provide funding for basic, translational and clinical research to understand the effects of cannabinoids on brain functions, organ systems and overall health. The initiative will cover a number of science and clinical disciplines, such as neurobiology, neurology, immunology and psychiatry. 

At MIT, Broderick's gift will be spent over three years to support independent research for four scientists at the McGovern and Picower Institutes.

Two researchers will separately expore the relationship between cannabis and schizophrenia. They are John Gabriely, the Grover Hermann Professor of Health Sciences and Technology, a professor of brain and cognitive sciences and a Member of MIT's McGovern Institute for Brain Reseach; and Myriam Heiman, the Latham Family Associate Professor of Neuroscience at the Picower Institute,

Why It's Important

Broderick, a graduate of both Harvard and MIT, was an early investor in the Canadian cannabis industry.

Among Uji Capital's holdings are Aphria Inc. APHA and Tweed Marijuana. In addition, Broderick made a private investment and was a board member at Tokyo Smoke, a cannabis brand portfolio.

In 2017, Tokyo Smoke merged with DOJA Cannabis to create Hiku Brands, where Broderick served as Chairman. Last year, Hiku Brands was acquired by Canopy Growth Corporation CGC.

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