SAN FRANCISCO--(BUSINESS WIRE)--The Parker Institute for Cancer Immunotherapy (PICI) announced today a $125 million investment to expand its research efforts and accelerate the development of innovative cancer immunotherapies. This funding commitment, the largest since PICI's founding in 2016, will support the institute's collaborative research model and the translation of scientific discoveries into breakthrough treatments for cancer patients.
"Cancer immunotherapy is at a critical inflection point, and we have a unique opportunity to make a profound impact on the lives of cancer patients," said Sean Parker, Founder and Chairman of PICI. "PICI has already helped to propel the field of immuno-oncology forward. We make big bets on bold research and enable the world’s brightest minds to focus on the toughest problems."
The investment comes as PICI has established new research centers at Gladstone Institutes, Dana-Farber Cancer Institute, and Weill Cornell Medicine over the past two years, bringing the total number of PICI research centers to seven. These centers, along with PICI's founding institutions – Stanford University, University of California, Los Angeles, University of California, San Francisco and the University of Pennsylvania – form the PICI Network, a collaborative consortium of the top-tier immuno-oncology academic research institutions. PICI also supports world-class cancer research at Memorial Sloan Kettering Cancer Center, MD Anderson Cancer Center, City of Hope and Fred Hutchinson Cancer Center.
These new funds will be distributed as grants over the next five years to PICI Network researchers to support and accelerate their groundbreaking research.
"PICI's support offers us the flexibility to pursue bold ideas, work faster, and invest in high-risk, high-reward research," said Jedd D. Wolchok, MD, PhD, Center Director of the Parker Institute for Cancer Immunotherapy at Weill Cornell Medicine Meyer Cancer Center. "While the PICI collaborative network has been an unmitigated success, we recognize the high level of unmet needs among cancer patients. This funding from PICI will enable us to continue developing new approaches and designing the next generation of immunotherapy treatments for the populations that need them most."
PICI's research model focuses on fostering cross-institutional collaboration and breaking down traditional barriers to scientific progress. This approach has yielded over 440 research projects and clinical trials to date, involving more than 850 scientists and support staff across the PICI network. PICI also supports early-career researchers in building their careers as next-generation leaders, as well as initiatives to promote diversity, equity and inclusion in the scientific community.
In addition to its research efforts, PICI has invested in 17 biotech startup companies working on next-generation cancer immunotherapies. Returns generated from these investments will support additional research grants, creating a sustainable cycle of innovation and discovery.
Recent scientific breakthroughs from PICI researchers were presented at the 2024 American Society of Clinical Oncology (ASCO) and American Association for Cancer Research (AACR) conferences, highlighting advances in CRISPR-based immunotherapy, engineered T cells and glioma vaccines.
The $125 million investment announced today will enable PICI to build upon these successes and continue its urgent mission of advancing cancer immunotherapy research to develop new treatments for patients in desperate need of breakthroughs.
"Cancer patients simply can't afford to wait, which is why PICI's model is so critical," said Crystal Mackall, MD, Director of the PICI Center at Stanford Medicine. "PICI brings together the best scientific minds in a collaborative model designed for speed and impact. This gives us a critical advantage, which is how progress is made. That's the power of PICI."
For more information about PICI and its research initiatives, visit www.parkerici.org.
About the Parker Institute for Cancer Immunotherapy
The Parker Institute for Cancer Immunotherapy (PICI) is radically changing how cancer research is done. Founded in 2016 through a $250 million gift from Silicon Valley entrepreneur and philanthropist Sean Parker, the San Francisco-based nonprofit is an unprecedented collaboration between the country’s leading immunotherapy researchers and cancer centers. PICI Network research institutions include Stanford Medicine; the University of California, Los Angeles; the University of California, San Francisco; the University of Pennsylvania; Dana-Farber Cancer Institute; Gladstone Institutes; and Weill Cornell Medicine. PICI also supports top researchers at other institutions, including The University of Texas MD Anderson Cancer Center, Memorial Sloan Kettering Cancer Center, City of Hope, Fred Hutchinson Cancer Research Center, Icahn School of Medicine at Mount Sinai, Institute for Systems Biology and Washington University School of Medicine in St. Louis. By forging alliances with academic, industry and nonprofit partners, PICI makes big bets on bold research to fulfill its mission: to accelerate the development of breakthrough immunotherapies to turn all cancers into curable diseases. Find out more at parkerici.org and follow us on LinkedIn, X, Apple Podcasts and Spotify.
Contacts
Parker Institute for Cancer Immunotherapy (PICI)
Eric McKeeby
