The W.M. Keck Foundation announced on Monday that it is giving $150 million for scientific research at USC's medical school and two affiliated hospitals.
"This $150 million gift from the Keck Foundation will have a profound impact on our community and our world, today and for generations to come. It will be a catalyst for dramatic discoveries and developments in medical research, teaching and patient care," President C. L. Max Nikias said in a statement.
The L.A. Times reports that the money will be paid out over 20 years. The goal is to raise the academic reputation of the medical school by recruiting top faculty.
This is the single largest gift donated by the foundation. It is USC's third so-called "mega-gift" since March.