COLUMBIA, Mo. (AP) — The University of Missouri System has closed its $10 million medical research institute as part of an effort to cut costs.

The decision to close the International Institute of Nano and Molecular Medicine will affect 17 full-time and part-time employees through layoffs and contract non-renewals, university spokesman Christian Basi told the Columbia Missourian (http://bit.ly/2vxVf4L ) in an email.

The institute was closed June 30 because of its significant operating expenses and its lack of grant funding in recent years, Basi said.

The university broke ground on the institut...