LOS ANGELES (CBS) — USC is set to announce two donations totaling $100 million that will fund a new institute for cancer research and a state-of-the-art building for journalism studies.

The Los Angeles Times reports the university will announce the donations Friday during the inauguration of USC’s new president, C.L. “Max” Nikias.

The Times says USC trustee and alumnus and Cogent Inc. founder Ming Hsieh is giving $50 million to support nanomedical research to develop drugs and other therapies for cancer treatment.

The other $50 million is from the Annenberg Foundation to USC’s School for Communication & Journalism. It will pay for a new 90,000-square-foot building with studios and newsrooms for the digital age.

“We are tremendously grateful to the Annenberg Foundation, Wallis Annenberg, and the Annenberg family for providing such transformational and magnificent support for the USC Annenberg School, and especially its journalism program,” USC President C. L. Max Nikias said in a statement.

The gift will “dramatically accelerate the school’s progress in the digital age,” Nikias said.

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