CanceRx Foundation was created to accelerate the delivery of effective new cancer therapeutics by providing scientific research grants and cooperative agreements to carry out clinical trial phase research.
The staggering cost to advance early-stage research through multi-year clinical trials and achieve FDA approval is significantly underfunded by private equity, government, research institutions and existing philanthropic efforts. CanceRx Foundation will invest in the development of new cancer therapies within five broad categories: diagnostics, personalized medicine, immunotherapy, pharmaceuticals, and innovative drug delivery systems.
CanceRx Foundation will support and expand the mission of the National Functional Genomics Center, a preeminent national consortium of the leading NIH/NCI Comprehensive Cancer Centers, to discover molecular signatures for cancers and to accelerate the delivery of genomic-based personalized cancer therapeutics.
CanceRx Foundation, through a taxable holding corporation, CanceRx LLC will create and invest in a portfolio of highly selective, promising cancer clinical research projects, thereby accelerating the delivery of targeted, more effective personalized cancer treatments. The holding company will utilize debt securitization, a commonly used financial engineering technique in which bonds are issued and sold to investors. The proceeds from long-term bonds will be used to purchase an diverse portfolio of Research-Backed Obligations (RBOs) as assets. These assets serve as collateral for the bondholders, and their sale to biopharmaceutical companies will generate cash flows used to pay the bonds’ interest and principal.
This model addresses the long-term requirements of the drug-approval process that can often take a decade or more from beginning to end, with greater flexibility than traditional models such as venture capital or private equity. Conducting parallel clinical trials reduces the expected waiting time for success, substantially reducing the enormous societal burden of treating and palliative care for cancer patients.
CanceRx Foundation is soliciting charitable contributions and grants to support operations including the funding and assignment of scientific research grants and contracts that support the clinical phase of new cancer therapeutics. CanceRx Foundation’s distinguished external advisory board of leading clinical cancer research experts provide advice regarding the analysis, selection, and continuing scrutiny of the applicants for and recipients of the Foundation’s grants and contracts.
CanceRx Foundation was formed in 2021 exclusively for charitable and scientific purposes. CanceRx Foundation is a 501(c)(3) nonprofit organization as determined by the IRS.
In 2022 CanceRx Foundation received it’s IRS Letter of Determination that it is exempt under (IRC) 501 (c)(3). Donors can deduct contributions they make to CanceRx Foundation, Inc. under IRC Section 170. Also qualified to receive tax deductible bequests, devices, transfers, or gifts under section 2055, 2016, or 2522.
A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL-FREE (800-435-7352) WITHIN THE STATE. REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL, OR RECOMMENDATION BY THE STATE.