LA JOLLA, Calif. & DELRAY BEACH, Fla., Apr 30, 2004 (BUSINESS WIRE) -- The Scripps Research Institute and Office Depot, Inc.,
(NYSE:ODP) today announced a joint philanthropic alliance, whereby
Office Depot pledged a $1 million corporate gift to Scripps Research
for its Childhood Neurological Disease Research Program at its new
Florida facility.
The announcement makes Office Depot the first major corporate
philanthropic partner to be announced by Scripps Florida, a division
of The Scripps Research Institute, dedicated to expanding its
internationally recognized programs and basic research.
Today, Bruce Nelson, Chairman and CEO of Office Depot, presented
the $1 million corporate gift to Richard A. Lerner, M.D., Scripps'
president, at a special luncheon at the Boca Raton Marriott which was
sponsored by the Boca Raton Roundtable and the Greater Boca Raton
Chamber of Commerce.
Office Depot's gift will create the Office Depot Program in
Childhood Neurological Disease Research and will fund research by
Shelley Halpain, PhD, and Steve Kay, PhD, among other Scripps
researchers in the Institute of Childhood and Neglected Diseases. The
gift will be made over a period of 10 years.
Scripps Florida in Palm Beach County represents the first time
that The Scripps Research Institute in La Jolla, California, will
create a new center for its world-class research beyond its original
campus. Scripps Research's new biomedical research facility will be
built on 100 acres in northern Palm Beach County on the Mecca Farms
site. Scripps Florida's permanent facilities will open in 2006.
According to Dr. Lerner, the relationship between Office Depot and
The Scripps Research Institute is a mutually beneficial alliance from
both a business and values perspective.
"This generous contribution from Office Depot will support
research that may lead to better health and an improved quality of
life for millions of children and adults, many of them in developing
countries around the world," Lerner said. "It reflects the concern and
good corporate citizenship of Office Depot and promotes the mission of
Scripps Florida and The Scripps Research Institute."
"We are delighted to support The Scripps Research Institute,"
Nelson added. "It is a world-class research institution with an
outstanding reputation and we are extremely fortunate to have Scripps
establish a presence in Palm Beach County. The organization's
world-renowned scientists and researchers have made a profound effect
in the lives of so many around the world."
According to Nelson, the company's philanthropic mission is
"Caring and Making a Difference." Office Depot's gift for the
Childhood Neurological Disease Research Program will help fund
biomedical research intended to find cures for children with
neurological diseases such as malaria, epilepsy, mental retardation
and cystic fibrosis.
About The Scripps Research Institute
The Scripps Research Institute , one of the country's largest
private nonprofit research organizations, has always stood at the
forefront of basic biomedical science, a vital segment of medical
research that seeks to comprehend the most fundamental processes of
life. In just three decades the Institute has established a lengthy
track record of major contributions to the betterment of health and
the human condition.
The Institute has become internationally recognized for its basic
research into immunology, molecular and cellular biology, chemistry,
neurosciences, autoimmune diseases, cardiovascular diseases and
synthetic vaccine development. Particularly significant is the
Institute's study of the basic structure and design of biological
molecules; in this arena Scripps Research is among a handful of the
world's leading centers. For more information, visit www.scripps.edu.
About Office Depot
With annual sales of nearly $12 billion, no one sells more office
supplies to more customers in more countries than Office Depot.
Founded in 1986 and headquartered in Delray Beach, FL, the company
conducts business in 23 countries and employs nearly 50,000 people
worldwide.
Office Depot is an industry leader in every distribution channel -
from retail stores and contract delivery to catalogs and e-commerce.
The company is the world's number two online retailer - on target to
generate $2.6B in sales for FY'03. In North America, Office Depot has
more than 900 retail stores in addition to a national
business-to-business delivery network supported by 22 delivery
centers, more than 60 local sales offices and 13 regional call
centers.
Recently, Office Depot was recognized in BusinessWeek as the
country's 11th most generous in-kind giver as a percentage of
revenues. Also, the company was one of twelve companies included in
the Companies That Care Honor Roll.
The company's common stock is traded on the New York Stock
Exchange under the symbol ODP and is included in the S&P 500 Index.
Additional press information can be found at:
http://mediarelations.officedepot.com.
MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=4629482
SOURCE: Office Depot
Office Depot, Delray Beach
Brian Levine, 561-438-2895
blevine@officedepot.com
or
The Scripps Research Institute
Keith McKeown, 858-784-8134
kmckeown@scripps.edu
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