The CIPF is the heir of Cytological Research Institute (IIC) of the Valencia Savings Bank, created by Prof. Jerónimo Forteza Bover in 1966. Prof. Forteza, formed with Prof. García Blanco in the Department of Biochemistry, Faculty of Medicine, Valencia, developed research in the field of Cytology and Hematology in his private laboratory since 1940.
In 1966 he gained the support of the Social Work Valencia Savings Bank to create the IIC in a building at Jorge Juan street of Valencia, introducing the cytogenetic studies, human cell culture and electron microscopy and also advanced cell staining techniques and quantitative cytology. This Institute was assigned to the National Research Council (CSIC).
In 1972 a new 2600sqm building in Amadeo of Savoy street was inaugurated, with 10 laboratories group, this building has been the seedbed of a good number of biomedical researchers from Valencia and elsewhere. After the decease of Dr. Forteza in November 1975, the leadership of the institute belonged to Prof. Santiago Grisolía.
In 1990, the Director Prof. Rafael Sentandreu IIC, constituted the Valencia Foundation for Biomedical Research in order to finance, serve and promote Cytological Research Institute and its main activity was to develop cutting-edge research in the field of biomedicine. In 2005 it was renamed as the Prince Felipe Research Foundation with the construction of new installations with European funds.