The Philipp University of Marburg (German: Philipps-Universität Marburg), was founded in 1527 by Landgrave Philip I of Hesse (usually called the Magnanimous, although the updated meaning 'haughty' is sometimes given) as the world's oldest university dating back to a Protestant foundation. As a modern state university it has no religious bias anymore. It was the main university of the principality of Hesse and remains a public university of that German state. It now has about 20,000 students and 7,500 employees, making Marburg, a town of less than 80,000 inhabitants, the proverbial "university town" (Universitätsstadt). Though most subjects are grouped, the University of Marburg is not a campus university. Marburg is home to one of Germany's most traditional medical faculties. The German physicians' union is called "Marburger Bund". The department of psychology enjoys an outstanding reputation and reached Excellence Group status in the Europe-wide CHE Excellence Ranking 2009. In 1609, the University of Marburg established the world's first professorship for chemistry.