The University of Pittsburgh announced that it is creating a Brain Institute to "unlock the mysteries of normal and abnormal brain function" and study treatments and cures for various neurological diseases and injuries, The Associated Press reported.

The new institute will consist of five centers that focus on neurotechnology, neurogenetics, brain mapping, learning, and discovery in neuroscience. University officials say that the new institute will provide a special environment to promote innovation and discovery.

"The creation of our Brain Institute reflects the high priority that we have assigned to this important work and will position Pitt for even higher levels of impact and achievement in the years ahead," Mark A. Nordenberg, the university's Chancellor, said in a statement. "It also will strengthen our ongoing local, national and international research efforts, such as the Center for the Neural Basis of Cognition, which is a joint program with Carnegie Mellon University,"

The Brain Institute's mission also includes coordinating strategic planning for further research initiatives and developing and overseeing essential research resources, according to a press release from the university.

"The Brain Institute will bring to bear the substantial resources across the University to take on some of the major health and scientific concerns of our time," Arthur S. Levine, the university's vice chancellor for the health sciences, said in a statement. "We have the will and the skills to unravel how the brain works, making this a very exciting time to conduct research in neuroscience."

Peter L. Strick, chairman of Pitt's department of neurobiology, told The Pittsburgh Post-Gazette that the institute will be modeled after the school's Cancer Institute.

The new insitute will be funded by the University Of Pittsburgh School Of Medicine which will provide $30 million in funding, along with the university which will provide $15 million. Strick is working to raise $120 million for the brain institute, "with discussions already underway with one potential donor," The Pittsburgh Post-Gazette reported.

In April, President Obama announced a $100 million federal BRAIN Initiative to "revolutionize the understanding of the brain," and address brain disorders such as Alzheimer's disease, Parkinson's disease, schizophrenia, autism, epilepsy, stroke, and traumatic brain injury university officials said they believe the University of Pittsburgh can rise to the challenge.

"This breadth of talent and experience makes us ideally suited to take our understanding of brain function to the next level," Patricia E. Beeson, the university's provost and senior vice chancellor, said in a statement.

Although the initiative comes nine months after Obama's announcement, university officials said they have been planning the institute since 2012.