- Associated Press - Monday, May 1, 2017

WILMINGTON, N.C. (AP) - The University of North Carolina at Wilmington says it’s received the largest corporate gift in its history, a $5 million commitment from a company that serves the pharmaceutical industry and was founded by a former school administrator and faculty member.

A news release from UNCW on Monday said the gift from Quality Chemical Laboratories will support the development of new programs related to pharmaceutical sciences and chemistry.

Company founder Yousry Sayed and his wife Linda made the announcement of the gift, which amounts to $1 million per year over the next five years.

The school said it expects the gift will be used to establish distinguished professorships and endowed support funds, potentially going toward student scholarships, instrumentation and equipment for faculty research, seminar series and travel opportunities.

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