- The Parker Institute for Cancer Immunotherapy – based in San Francisco – is part of a potential $1 billion effort to provide immunisation for cancer
- Philanthropist Sean Parker, the founder of the Parker Institute, also launched Napster and helped to start Facebook
- The Parker Institute will include over 300 researchers, 40 labs and six research centres
- Stanford, UCLA and the University of Pennsylvania are among the universities involved
Silicon Valley entrepreneur Sean Parker, who has emerged at the forefront of the new age of philanthropists, today donated $250 million dollars to his foundation, The Parker Institute for Cancer Immunotherapy, which is expected to pledge over a billion dollars towards turning the human body’s immune system against the proliferation of cancer cells; in effect, creating a cure for cancer.
The Parker Institute for Cancer Immunotherapy
A formal announcement is expected by Parker and the Institute President and CEO Jeff Bluestone in Los Angeles later this week, and the Napster founder pledged commitment to finding a cure for cancer, commenting: “We are at an inflection point in cancer research and now is the time to maximise immunotherapy’s unique potential to transform all cancers into management diseases, saving millions of lives.”
The Parker Institute for Cancer Immunotherapy will include more than 300 researchers, 40 labs and 6 research centres, and includes pioneers from Stanford University, UCLA and the University of Pennsylvania.
This cash injection, which is spread out over seven years, is expected to encourage more efforts from other philanthropists and could generate up to one billion dollars in revenue. Cancer immunotherapy, or immuno-oncology, is one of the most popular aspects of the healthcare and life sciences industry. It has spawned a wave of new drugs and partnerships designed to train the human immune system to recognise and attack cancer cells. This latest act of philanthropy in the healthcare industry must be the first of many, insists Challenge Advisory’s Megan Russell.
Russell, who heads the global firm’s health division, went on to say: “With the newest developments and precision medicine taking hold, there are several aspects of cancer research to explore, and some of the brightest minds may not have the resources to fully realise their potential. The hope is that Sean Parker and the Parker Institute will bring about a new age of philanthropy, where the minds have the funds to provide Planet Earth with a better standard of life.”
Challenge Advisory fully welcomes the improvement of precision medicine, especially in the cancer sector, and implores institutes to continue their dedicated research to bring patients worldwide an integrated and personalised healthcare service.
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