Record $100M donation launches Princess Margaret’s ambitious cancer campaign

4 days ago 20

The $2.5-billion Carry the Fire campaign will focus on earlier cancer detection, new treatments, patient care

Published Sep 22, 2026 • Last updated 14 minutes ago • 2 minute read

Princess Margaret Cancer Foundation building.

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An anonymous donor with “a personal connection to cancer” has prompted the Princess Margaret Cancer Foundation to launch a new $2.5-billion campaign.

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The donor’s $100-million gift marks the largest ever received by the foundation, which plans to put it toward the Princess Margaret Cancer Centre’s most pressing needs, from research and education to care, as it aims to speed breakthroughs and innovations when and where the funds are needed most.

The launch came as cancer research is making historic progress with artificial intelligence, genomics, precision medicine and cellular therapies helping to create opportunities for earlier detection and develop more effective, personalized treatments.

“The Princess Margaret is not just participating in the global cancer ecosystem; it is shaping the model others will follow,” Dr. Miyo Yamashita, president and CEO of the Princess Margaret Cancer Foundation, said in a news release.

“This is a moment of real opportunity and we can meet this challenge. Every breakthrough brings us closer to a future where fewer families fear the words no one ever wants to hear: ‘You have cancer.’”

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A major Toronto hospital network said its digital systems went down on Monday, and it was working to investigate what was causing the outage.

Where will the $2.5 billion go?

The $2.5-billion Carry the Fire campaign aims to redefine the future of cancer care in Canada and around the world by focusing on three priorities.

The first is catching cancer at its earliest stages and finding it before it becomes life threatening.

The second focuses on advancing new approaches to cancer treatment — including precision medicine, immunotherapy, theranostics, genomics and AI-enabled care — to deliver more effective, personalized treatments with fewer side effects.

The third pillar centres on transforming the cancer experience for patients and loved ones through survivorship, rehabilitation, mental-health resources and holistic support.

“Princess Margaret is one of the places where the future of cancer care is being created,” Dr. Kevin Smith, president and CEO of University Health Network, said in the release.

“Carry the Fire will help us accelerate that work, extend its impact and continue pushing the boundaries of cancer care for patients in Canada and around the world.”

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Gift that will keep on giving

Janice Fukakusa, cabinet co-chair of the campaign, noted that Carry the Fire is more than just a fundraising effort and instead called it “a movement that will shape what becomes possible for people affected by cancer.”

With its deeply collaborative global research network and one of the most diverse patient populations in the world, the Princess Margaret generates deeper biological insights, more robust clinical data and discoveries that apply to more than 200 types of cancer.

“We have an opportunity to accelerate breakthroughs that will change lives here at home and around the world,” Fukakusa added, noting she is grateful to all donors and supporters, particularly the philanthropist who provided the $100-million gift.

“That remarkable act of generosity reflects the profound confidence our community has in this organization and the impact we can achieve together.”

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