UWM Chancellor Carlos Santiago said officials hope the new Wisconsin Institute for Biomedical and Health Technologies will encourage more cooperation among academic researchers and companies, as well as build on the area's strengths and support economic growth.

(AP) — The University of Wisconsin-Milwaukee hopes to raise at least $15 million in the next three years for a biomedical research institute that will bring together researchers from the university and the Medical College of Wisconsin.

UWM Chancellor Carlos Santiago said officials hope the new Wisconsin Institute for Biomedical and Health Technologies will encourage more cooperation among academic researchers and companies, as well as build on the area's strengths and support economic growth.

Aurora Health Care, Cerner Corp. and GE Healthcare Technologies already have committed to the project and the university was expected to announce a $1 million seed grant Monday.