The Dr. Michael J. Welch Foundation was established in 2012 to honor his life and further his groundbreaking research spanning 45 years, which sought to find new and effective ways to diagnose and treat cancer and other diseases.  The Foundation supports new talent as part of his legacy to benefit of radiopharmaceutical chemistry and nuclear medicine.

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“Dr. Welch was widely regarded as the world’s leader in his specialty, which was radiopharmaceutical chemistry. He was largely responsible for the development and widespread use of radioactive pharmaceutical agents in medical research and practice,” - R. Gilbert Jost, MD, director of the Mallinkcrodt Institute.