Queen's University in Belfast says it has raised over £30m (€37m) to develop a new Experimental Medicine Centre.
Almost half the money came from one single donation to the university from US billionaire Chuck Feeney, through his Atlantic Philanthropies foundation.
The new centre, which will be based at Belfast City Hospital, will specialise in scientific research into eye disease and diabetes.
It will employ 500 scientists investigating other complex chronic disorders.
The university said it will help transform health care in Northern Ireland and beyond.
According to the university, just over half of the funding came from the UK Research Partnership Investment Fund.
The remaining £15m (€19m) came from Mr Feeney's organisation.