In a significant move, the Princess Margaret Cancer Foundation has received an anonymous donation of $100 million, making it the "single, largest gift" in the foundation's history. The donation is being touted as a "landmark" gift for the Princess Margaret Cancer Foundation but the size of the gift isn't the only thing making the donation unusual. The most striking part of the donation is that the donor has not placed restrictions on how the money should be spent. This means the donor has given Princess Margaret Cancer Centre complete flexibility and right to use the funds toward its most urgent priorities in cancer research, education and patient care, reports The Toronto Star.
The foundation’s CEO, Dr. Miyo Yamashita, announced the donation on Tuesday as it also launched its $2.5 billion “Carry the Fire” fundraising campaign to accelerate cancer research, treatment and care. “It’s the largest single investment ever made in cancer research, education and care, anywhere in Canada,” Yamashita told a crowd of people at the campaign event. “While this donor has chosen to remain anonymous, the impact of their leadership will resonate around the world and impact cancer patients, families and the cancer community now and generations to come.”
The cancer centre will put the donation toward its highest priority needs in research, education and care to help accelerate innovations in areas that need it most, the release said.
Donor's 'personal connection' to cancer
Though the official statement did not disclose the name of the donor, a press release about the Princess Margaret Cancer Foundation donation said they had a “personal connection” to cancer. The donor was compelled by their personal connection to cancer and the foundation's goal to remove the fear of cancer from the world, said a news release by the Princess Margaret Cancer Foundation. Those funds will give patients "many ordinary tomorrows" through access to more treatments and support, she said.
Across the globe, cancer remains the leading cause of death, Yamashita said. The World Health Organization predicts new cancer cases could increase by 77 per cent by 2050. But donations like that of the anonymous donor make “the world a little brighter,” she added.
“You feel so much emotion when you see that someone wants to support a world free from the fear of cancer with that quantum of investment,” she told reporters. As of Tuesday night, Yamashita said the foundation’s campaign had already raised $1.061 billion.
Cancer patients get a new ray of hope
Cancer patient Annie Raimondo told reporters on Tuesday that she’s hopeful the fundraising campaign can lead to a cure for all cancers. Annie said that the $100 million donation at the Princess Margaret Cancer Foundation “gives hope to everybody.” Raimondo said doctors have told her she’s stable, though not cancer free yet.
Annie Raimondo said the "incredible" donation is a gift for everyone who is fighting cancer, as well as future patients that have yet to be diagnosed. Raimondo said doctors have told her she is currently stable, but not cancer free "yet." "The donors whose generosity has transformed the lives of me and my family, I am indebted to all of you."
What will the money be used for?
The $100 million donation comes as Princess Margaret launches its much larger $2.5 billion Carry The Fire campaign.
The campaign has three major areas of focus.
1. Detecting cancer earlier
The most important priority is finding cancer at its earliest possible stage, before it claims the lives of people. The Princess Margaret foundation calls this "Stage 0", with investment aimed at preventing, intercepting and detecting cancer earlier.
2. Developing treatments beyond chemotherapy
The campaign will also support newer approaches to cancer treatment, including precision medicine, immunotherapy, genomics, theranostics and artificial-intelligence-enabled care with an aim to develop treatments that are more personalized and potentially less toxic for patients.
3. Improving life for cancer patients
The third priority goes beyond treating the disease itself. The foundation plans to invest in survivorship, rehabilitation, mental-health resources and broader support for patients and their loved ones.
