By his own admission, Brendan McAssey has made a pile of money. It’s a classic rags-to-riches narrative of a child from Irish peasant stock who became a multimillionaire and now wants to give back to the society that allowed him to succeed against the odds.

Through his personal philanthropic foundation, Mr McAssey on Tuesday will hand over $6 million to La Trobe University. The donation will pay for a phase-two human trial of a radical experimental treatment for stroke victims, in which human amniotic cells are injected into stroke patients and can potentially significantly reduce, and even reverse, brain injury.