Gerald Weissmann was born in Austria, but when young, he and his family fled the Nazis, eventually ending up in New York City. After earning a bachelor's degree in fine arts from Columbia College, Weissmann, entered medical school at New York University. Having opted for a research career, he completed his residency at Mount Sinai Hospital and became chief resident at Bellevue Hospital. In the mid-1960s, Weissmann, along with close friend, Alec D. Bangham, discovered liposomes, and in 1982 founded The Liposome Company, which received FDA approval for the drugs Abelcet and Myocet. In speaking about the origins of the Pew Biomedical Scholars Program, Weissmann contrasts the Pew funding with larger funding bodies like the NIH, Weissmann, extolling the benefits of funding creative young scientists.