On Jul. 18, 2024, the Parker Institute for Cancer Immunotherapy announced 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.

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, Washington University School of Medicine in St. Louis 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 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.