- Associated Press - Wednesday, December 14, 2016

AUSTIN, Texas (AP) - A foundation supported by a retired oil executive is pledging $50 million to the medical school at the University of Texas and another $25 million to the university’s MD Anderson Cancer Center in Houston.

The Austin-based Mulva Family Foundation announced Wednesday that the contribution to UT’s Dell Medical School in Austin will be used to establish a neuroscience clinic for research into Alzheimer’s disease and other afflictions.

Meanwhile, the MD Anderson grant will be used to advance treatment for melanoma and prostate cancer.

Clay Johnston, dean of the Dell school, told the Austin American-Statesman the $50 million gift will be paid over 10 years. He says another $50 million must be raised for the neuroscience clinic because of “tremendous” startup costs.

James Mulva was a chairman and CEO of ConocoPhillips.

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