The IMP was established in 1985 and is funded by the pharmaceutical company Boehringer Ingelheim and research grants.

[5] In 2017, Kim Nasmyth received the Breakthrough Prize in life sciences for work on cohesin that he had done at the IMP.

The services offered are available to all Vienna BioCenter scientists and companies, including IMP staff.

[10] In 1992, three institutes of the faculties of science and medicine of the University of Vienna moved into a nearby building, today's Max Perutz Labs.

It is awarded annually by the Max Birnstiel Foundation and the IMP, and it targets doctoral students at an advanced stage of their PhD research who have contributed to making an outstanding discovery in their field.

[14] Several features of the building refer to biological research: the facade features stripes should resemble DNA bands as seen in gel electrophoresis; the central elevator's glass covers are coated with dichroic foils which are also used in filters for light microscopy.

The project costs of 52 million Euros were borne by the IMP's main sponsor Boehringer Ingelheim.

[15] In order to maintain a high standard of research, the IMP employs a process of continuous review and feedback.

The Scientific Advisory Board (SAB), consisting of distinguished scientists, meets once a year and discusses the quality, significance, and main focus of research conducted at the IMP.