PMH announces new investments in ‘personalized medicine’

TORONTO – The Princess Margaret Cancer Foundation has announced four new investments in its campaign to conquer cancer through personalized medicine. “We are announcing a key milestone in our five-year, Billion Dollar Challenge to lead the way in Personalized Cancer Medicine with an unprecedented investment in people, purpose-built space and technology,” said Paul Alofs (pictured), President & CEO of The Princess Margaret Cancer Foundation.

Alofs asserted that the initiatives will “further the Princess Margaret Cancer Centre’s position as one of the Top Five cancer research centres in the world.”

The four announcements were:

• The major expansion of the Princess Margaret Cancer Centre campus. 113,000 square feet are being added to The Princess Margaret’s downtown Toronto footprint. This now includes 10 floors in the newly named Princess Margaret Cancer Research Tower at the corner of College and Elizabeth Streets.
• Unprecedented recruitment of scientists and their teams. Building on a team of over 1,300 researchers, trainees and staff, The Princess Margaret has recruited 26 international cancer experts and their teams, totaling 91 staff. This will increase to approximately 200 by the end of the Billion Dollar Challenge.
• Redevelopment of 610 University Avenue. The first five floors of the existing cancer centre will be transformed to deliver on The Princess Margaret’s promise of Personalized Cancer Medicine.
• Gift from nine of Canada’s leading gold mining companies. The exciting gift was made in combination by nine of Canada’s leading gold mining companies. Their unique contribution came in the form of six gold bars, weighing a total of 2,400 troy ounces, with a total value of more than $3.28 million. The gold bars were contributed by Agnico Eagle Mines Ltd., Barrick Gold Corporation, Goldcorp Inc., IAMGOLD, Kinross Gold Corporation, New Gold Inc., Primero Mining Corp., Silver Wheaton Corp. and Yamana Gold Inc.

It was announced that the The Princess Margaret’s Billion Dollar Challenge has surpassed the halfway mark, having raised $576 million – 58 percent of the goal. This amount is divided between The Princess Margaret Cancer Foundation, which has raised $285 million through philanthropy, and $291 million which has been secured by the organization’s scientists and clinicians through competitive grants.

About The Princess Margaret Cancer Foundation

The Princess Margaret Cancer Foundation at University Health Network is raising funds to lead the way in Personalized Cancer Medicine at the Princess Margaret Cancer Centre, one of the top 5 cancer research centres in the world, which includes The Campbell Family Cancer Research Institute and The Campbell Family Institute for Breast Cancer Research. For more information please visit www.thepmcf.ca.