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Wellcome Trust
The Wellcome Trust is a charitable foundation focused on health research based in London, United Kingdom. It was established in 1936 with legacies from the pharmaceutical magnate Henry Wellcome (founder of Burroughs Wellcome, one of the predecessors of GSK plc) to fund research to improve human and animal health. The aim of the Trust is to "support science to solve the urgent health challenges facing everyone." It had a financial endowment of £37.6 billion in 2025, making it the fourth wealthiest charitable foundation in the world. In 2012, the Wellcome Trust was described by the Financial Times as the United Kingdom's largest provider of non-governmental funding for scientific research, and one of the largest providers in the world. According to their annual report, the Wellcome Trust spent GBP £1.1 billion on charitable activities across their 2023/2024 financial year. According to the OECD, the Wellcome Trust's financing for 2019 development increased by 22% to US$327 million.
The Wellcome Trust's operations are run from two buildings on Euston Road in London. The Wellcome Building, at 183 Euston Road, built in 1932 in Portland stone houses the Wellcome Collection and the adjoining glass and steel building at 215 Euston Road is the Gibbs Building, by Hopkins Architects, which opened in 2004 as the administrative headquarters of the Wellcome Trust. In 2019, the Wellcome Trust also opened an office in Berlin.
The trust was established to administer the fortune of the American-born British pharmaceutical magnate Sir Henry Wellcome. Its income was derived from what was originally called Burroughs Wellcome, later renamed in the UK as the Wellcome Foundation Ltd. In 1986, the trust sold 25% of Wellcome plc stock to the public. Overseen by incoming Director of Finance Ian Macgregor, this marked the beginning of a period of financial growth that saw the trust's value increase by almost £14 billion in 14 years, as their interests moved beyond the bounds of the pharmaceutical industry.
In 1995, the trust divested itself of any interest in pharmaceuticals by selling all remaining stock to Glaxo plc, the company's historic British rival, creating GlaxoWellcome plc. In 2000, the Wellcome name disappeared from the drug business altogether when GlaxoWellcome merged with SmithKline Beecham, to form GlaxoSmithKline plc.
The Trust funds or co-funds a number of major biomedical research initiatives:
Also known as SDDI, this five-year initiative started in October 2005 with the remit "to facilitate the development of drug-like small molecules that address unmet medical needs." SDDI was based in London and managed by Richard Davis. Through early 2010, SDDI had provided more than £80 million across 30 projects split between academic institutions and companies. To early 2010, all but one of the company recipients were either start-ups or spin-outs. In May 2010, an additional £110 million was added to the SDDI fund with the intent to extend the initiative for an additional five years.
The Wellcome Trust announced the need for at least $8 billion of new funding for research, development, and supply of treatments related to COVID-19. Wellcome Trust collaborated with the Bill & Melinda Gates Foundation and Mastercard to fund the COVID-19 Therapeutics Accelerator, launching in March 2020 with an initial $125 million in backing.
In September 2019, Wellcome launched an initiative to reimagine research and improve the culture in which research is conducted. Current incentive structures and, as a result, culture and practices, prioritise publication outputs above all else. This is damaging people's wellbeing and undermining the quality of research itself.
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Wellcome Trust
The Wellcome Trust is a charitable foundation focused on health research based in London, United Kingdom. It was established in 1936 with legacies from the pharmaceutical magnate Henry Wellcome (founder of Burroughs Wellcome, one of the predecessors of GSK plc) to fund research to improve human and animal health. The aim of the Trust is to "support science to solve the urgent health challenges facing everyone." It had a financial endowment of £37.6 billion in 2025, making it the fourth wealthiest charitable foundation in the world. In 2012, the Wellcome Trust was described by the Financial Times as the United Kingdom's largest provider of non-governmental funding for scientific research, and one of the largest providers in the world. According to their annual report, the Wellcome Trust spent GBP £1.1 billion on charitable activities across their 2023/2024 financial year. According to the OECD, the Wellcome Trust's financing for 2019 development increased by 22% to US$327 million.
The Wellcome Trust's operations are run from two buildings on Euston Road in London. The Wellcome Building, at 183 Euston Road, built in 1932 in Portland stone houses the Wellcome Collection and the adjoining glass and steel building at 215 Euston Road is the Gibbs Building, by Hopkins Architects, which opened in 2004 as the administrative headquarters of the Wellcome Trust. In 2019, the Wellcome Trust also opened an office in Berlin.
The trust was established to administer the fortune of the American-born British pharmaceutical magnate Sir Henry Wellcome. Its income was derived from what was originally called Burroughs Wellcome, later renamed in the UK as the Wellcome Foundation Ltd. In 1986, the trust sold 25% of Wellcome plc stock to the public. Overseen by incoming Director of Finance Ian Macgregor, this marked the beginning of a period of financial growth that saw the trust's value increase by almost £14 billion in 14 years, as their interests moved beyond the bounds of the pharmaceutical industry.
In 1995, the trust divested itself of any interest in pharmaceuticals by selling all remaining stock to Glaxo plc, the company's historic British rival, creating GlaxoWellcome plc. In 2000, the Wellcome name disappeared from the drug business altogether when GlaxoWellcome merged with SmithKline Beecham, to form GlaxoSmithKline plc.
The Trust funds or co-funds a number of major biomedical research initiatives:
Also known as SDDI, this five-year initiative started in October 2005 with the remit "to facilitate the development of drug-like small molecules that address unmet medical needs." SDDI was based in London and managed by Richard Davis. Through early 2010, SDDI had provided more than £80 million across 30 projects split between academic institutions and companies. To early 2010, all but one of the company recipients were either start-ups or spin-outs. In May 2010, an additional £110 million was added to the SDDI fund with the intent to extend the initiative for an additional five years.
The Wellcome Trust announced the need for at least $8 billion of new funding for research, development, and supply of treatments related to COVID-19. Wellcome Trust collaborated with the Bill & Melinda Gates Foundation and Mastercard to fund the COVID-19 Therapeutics Accelerator, launching in March 2020 with an initial $125 million in backing.
In September 2019, Wellcome launched an initiative to reimagine research and improve the culture in which research is conducted. Current incentive structures and, as a result, culture and practices, prioritise publication outputs above all else. This is damaging people's wellbeing and undermining the quality of research itself.