UCLA has been notified that it will be losing some of its federal research funding over claims of “antisemitism and bias,” according to the school’s chancellor.

“UCLA received a notice that the federal government, through its control of the National Science Foundation (NSF), the National Institutes of Health (NIH) and other agencies, is suspending certain research funding to UCLA,” said UCLA’s chancellor Julio Frenk in a statement released on Thursday. “This is not only a loss to the researchers who rely on critical grants. It is a loss for Americans across the nation whose work, health, and future depend on the groundbreaking work we do.”

Frenk said “hundreds of grants” may be lost due to the decision.

“The news we received is so deeply disappointing. With this decision, hundreds of grants may be lost, adversely affecting the lives and life-changing work of UCLA researchers, faculty and staff,” the chancellor said. “In its notice to us, the federal government claims antisemitism and bias as the reasons. This far-reaching penalty of defunding life-saving research does nothing to address any alleged discrimination.”

Just earlier this week, UCLA reached a $6 million settlement with Jewish students to resolve a lawsuit alleging it allowed pro-Palestinian demonstrators to prevent Jewish students and faculty from accessing parts of campus.

“We share the goal of eradicating antisemitism across society. Antisemitism has no place on our campus, nor does any form of discrimination. We recognize that we can improve, and I am committed to doing so,” Frenk said in his statement on Thursday. “Confronting the scourge of antisemitism effectively calls for thoughtfulness, commitment, and sustained effort — and UCLA has taken robust actions to make our campus a safe and welcoming environment for all students.”

UCLA said it is “actively evaluating our best course of action” following the announcement that it is set to lose some of its federal research funding.

“For the past several months, our leadership team has been preparing for this situation and have developed comprehensive contingency plans. We will do everything we can to protect the interests of faculty, students and staff — and to defend our values and principles,” Frenk said.

“Federal research grants are not handouts. Our researchers compete fiercely for these grants, proposing work that the government itself deems vital to the country’s health, safety and economic future,” the chancellor continued. “Grants lead to medical breakthroughs, economic advancement, improved national security and global competitiveness — these are national priorities.”

ABC News’ Vanessa Navarette contributed to this report.