COLUMBIA, MO. (KMOX) – The University of Missouri System has closed its $10 million medical research institute as part of an effort to cut costs.
The decision to close the International Institute of Nano and Molecular Medicine will affect 17 full-time and part-time employees through layoffs and contract non-renewals. It was closed June 30 because of its significant operating expenses and its lack of grant funding in recent years.
The university broke ground on the institute in 2008, which studied how to apply nanotechnology to fighting diseases.