Billionaire Bill Ackman and wife Neri Oxman have pledged $400 million to launch the Ackman Oxman Institute, a brain research and rehabilitation centre in New York, after their 26-year-old daughter Lucy survived a massive brain haemorrhage in February. Ackman said he wants cures and treatments for patients, not academic accolades.

The billionaire investor said campus politics and funding cuts have made academia less attractive

Billionaire Bill Ackman and his wife, Neri Oxman, announced their new commitment of $400 million to establish a new non-profit institute dedicated to brain research,…