The funds were raised by Reds fans who attended and supported the Liverpool FC Legends’ charity match with Real Madrid at Anfield in March 2017, plus other activities held by the club’s official charity throughout the year.
The Institute in the Park will enable the hospital to develop better, safer medicines and treatments to benefit young patients at Alder Hey and children across the world.
Their aim is to develop the next generation of medicines and interventions that are even more effective, and safer to treat children, for generations to come.
The Institute will also be home to the Alder Hey Academy, which will aim to provide the very best healthcare education across the NHS and abroad.