Andrea Seale, Chief Executive Officer at Canadian Cancer Society, shared a post on LinkedIn:
“Canada is home to some of the most respected and talented cancer researchers in the world. But too often, their promising discoveries struggle to make the leap from the lab to the patients who need them. Scarcity of capital to support commercialization is often cited as one of the greatest barriers for Canadian innovators.
We are thrilled to be addressing this gap with a first-of-its-kind investment by the Canadian Cancer Society.
We’re partnering with the Terry Fox Foundation and Lumira Ventures on the ‘Cancer Breakthrough Fund‘ – bringing philanthropy and venture capital together with a single purpose: getting life‑saving cancer innovations to patients faster.
With about half of Canadians expected to be diagnosed with cancer, and the scale of the problem increasing as our population grows and ages, addressing the critical need to increase access to private capital for oncology startups in Canada is urgent.
Venture‑backed healthcare companies account for more than half of new therapies approved in recent years, yet Canada continues to underinvest in life sciences compared to global peers.
The result is a system where Canadian discoveries are often scaled elsewhere – or not at all. We can’t let homegrown talent and innovation falter, especially when lives are at stake.
For the Canadian Cancer Society, this partnership builds on decades of successful investment in cancer science. Backing the country’s brightest science has led to so many life-saving advancements – identifying cancer-causing genes, creating tests to better detect cancer, developing strategies, like the HPV vaccine, to stop cancer before it starts, and so much more. Thanks in large part to research, 64% of people diagnosed with cancer in Canada today are expected to survive, compared to 25% in the 1940s.
Funding research across the cancer experience – from prevention and detection to treatment and survivorship – remains essential. But research alone is not enough.
If we want better oncology diagnostics, treatments and cures to reach people who need them, we must also support commercialization pathways that turn research into reality.
We know this is not without some degree of risk. Some oncology startups won’t make it to market. But some will. And for those innovations with the greatest promise and potential, we must create an environment for them to succeed. We must do our very best to keep home grown innovations in Canada. We owe it to each person diagnosed and their loved ones to courageously open the door for possibility.
The Cancer Breakthrough Fund reflects the power of collective action. Complex challenges demand new models and allies. By uniting philanthropic purpose with private‑sector expertise, we can strengthen Canada’s cancer innovation ecosystem—and ensure more breakthroughs deliver real impact for us all. We are grateful to call the Terry Fox Foundation and Lumira Ventures partners in this effort.”
Other articles featuring Andrea Seale on OncoDaily.