The University of Sydney has lots to celebrate after the Pablo Picasso painting donated by an anonymous American auctioned for an amount of $22 million dollars.

An authentic 1935 Picasso painting was auctioned for 13.5 million pounds, around $22 million dollars by the University of Sydney earlier today. The painting entitled "Jeune fille endormie", was given by a donor who wants to stay anonymous. The American donor, who rode a plane to personally hand the painting to the university's officials last year, only wishes for the proceeds to fund scientific research. According to the university's vice chancellor Michael Spence, the money will be used to fund various researches to ward off obesity, cardiovascular disease and diabetes.

"This painting is going to change the lives of many people" says Spence in a report posted at ABC news. The painting was auctioned at Christie's early Tuesday and attracted many wealthy art collectors and enthusiasts. The auctioned painting by Picasso is one of the portraits he painted for his lover Mare-Therese Walter. Last year, another painting inspired by Walter was sold for a world record amount of $106.5 million dollars, the most expensive amount paid for any piece of artwork.

The name of the British buyer of the 1935 "Jeune fille endormie" painting is said to be released next week.