Carnegie Mellon University announced on Monday that it has received a $25-million grant from the Richard King Mellon Foundation, in Pittsburgh, reports the Pittsburgh Post-Gazette.

The university plans to use the money to establish the Life Sciences Competitiveness Fund to support faculty positions and new labs. The grant money will also establish the Presidential Scholars Fund for graduate students who will focus on life sciences such as biomedical engineering, computational biology, and medical robotics.