Latest news with #PICI
Business Wire
9 hours ago
- Business
- Business Wire
New RADIOHEAD Study Validates Use of Guardant Reveal Tissue-Free Monitoring for Earlier Detection of Immunotherapy Response in Advanced Cancer
PALO ALTO, Calif.--(BUSINESS WIRE)--Guardant Health, Inc. (Nasdaq: GH), a leading precision oncology company, today announced the first clinical readout from their collaboration in the RADIOHEAD study with the Parker Institute for Cancer Immunotherapy (PICI), a network of the largest concentration of immuno-oncology (IO) expertise in the world. The data, published today in Cancer Research Communications, a journal of the American Association for Cancer Research, found that Guardant Reveal successfully detected responses to immunotherapy across multiple solid tumor types in advanced stage cancer patients and identified non-responders more than three months—and in some cases nearly five months—before disease progression was visible by standard methods. Approximately 30% of patients with advanced-stage cancer receive immunotherapy treatment, with varying degree and duration of response. This study analyzed a large cohort of more than 500 patients with various advanced solid tumors, including lung, skin, head and neck, breast, GI, GU, and gynecologic cancers, receiving immunotherapy in a real-world setting to assess if blood-based monitoring could predict response accurately and faster than standard of care methods. The strong association found between long-term patient outcomes and changes in tumor fraction as measured with the tissue-free, methylation-based Guardant Reveal supports the use of blood-based monitoring to help predict treatment response and improve decision-making in cancer care. 'Precise serial monitoring at the molecular level provides real value to oncologists and to patients using immunotherapy,' said Craig Eagle, M.D., Chief Medical Officer at Guardant Health. 'This study shows that Guardant Reveal has the potential to revolutionize how oncologists assess patient response, identifying earlier insights that can empower them to make informed decisions faster and improve patient outcome and quality of care.' 'Our RADIOHEAD study of Guardant Reveal in advanced stage cancers provides patients with a new caliber of precision monitoring in order to create better patient outcomes,' said Tarak Mody, PhD, Chief Business Officer at PICI. 'These findings exemplify PICI's commitment to forging mission-driven partnerships to bring cutting-edge technology into clinical practice, accelerate discoveries, and advance the development of curative immune therapies for patients.' Key study findings include: The full manuscript in Cancer Research Communications is available here. About Guardant Health Guardant Health is a leading precision oncology company focused on guarding wellness and giving every person more time free from cancer. Founded in 2012, Guardant is transforming patient care and accelerating new cancer therapies by providing critical insights into what drives disease through its advanced blood and tissue tests, real-world data and AI analytics. Guardant tests help improve outcomes across all stages of care, including screening to find cancer early, monitoring for recurrence in early-stage cancer, and treatment selection for patients with advanced cancer. For more information, visit and follow the company on LinkedIn, X (Twitter) and Facebook. About RADIOHEAD The RADIOHEAD (Resistance Drivers for Immuno-Oncology Patients Interrogated by Harmonized Molecular Datasets) program is a pan-tumor, prospective cohort study of 1,070 immunotherapy-naïve patients receiving standard-of-care immune checkpoint inhibitor regimens. Conducted across 49 U.S. community oncology clinics, the study includes over 3,700 longitudinal blood samples collected at pretreatment, early on-treatment, and immune-related adverse event timepoints, with a focus on major immuno-oncology indications such as non-small cell lung cancer (~1,400 samples) and malignant melanoma (~500 samples). Multi-omic profiling (including circulating tumor DNA analysis, whole-exome sequencing, transcriptomics, high-dimensional immune profiling, and serum proteomics) is paired with detailed clinical and demographic data to enable deep translational insights. This comprehensive dataset provides a unique opportunity to uncover mechanisms of response, resistance, and toxicity, and to apply machine learning approaches to explore immune and disease pathways. Guardant Health Forward-Looking Statements This press release contains forward-looking statements within the meaning of federal securities laws, including statements regarding the potential utilities, values, benefits and advantages of Guardant Health's liquid biopsy tests or assays, which involve risks and uncertainties that could cause the actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. These statements are based on current expectations, forecasts and assumptions, and actual outcomes and results could differ materially from these statements due to a number of factors. These and additional risks and uncertainties that could affect Guardant Health's financial and operating results and cause actual results to differ materially from those indicated by the forward-looking statements made in this press release include those discussed under the captions 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operation' and elsewhere in its Annual Report on Form 10-K for the year ended December 31, 2024, and in its other reports filed with or furnished to the Securities and Exchange Commission. The forward-looking statements in this press release are based on information available to Guardant Health as of the date hereof, and Guardant Health disclaims any obligation to update any forward-looking statements provided to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. These forward-looking statements should not be relied upon as representing Guardant Health's views as of any date subsequent to the date of this press release.
Business Wire
6 days ago
- Business
- Business Wire
Dispatch Bio Launches to Deliver Universal Treatment Across Solid Tumors with Novel Immunotherapy Approach
PHILADELPHIA & SAN FRANCISCO--(BUSINESS WIRE)--Dispatch Bio announced its official launch today, with a mission to engineer a universal treatment across solid tumors, which represent approximately 90% of cancers worldwide. Immunotherapies have struggled to effectively treat solid tumors due to two main challenges: the lack of a tumor-specific target and the presence of an immune-suppressive tumor microenvironment. Dispatch's first-in-class Flare platform was specifically engineered to overcome both. It works by delivering a viral vector carrying a novel, universal antigen – called Flare – that precisely tags solid tumor cells while simultaneously breaking down the tumor's inhibitory environment. Once in place, the Flare antigen acts as a beacon, directing the immune system to find and clear the cancer cells — without harming healthy tissue. 'At Dispatch, we are leveraging the ideal tumor target – one that is only expressed by the tumor cells in a patient – and advances in cell therapy engineering and immune system activation at the right place, at the right time, to get to deep and durable responses in cancer,' said Sabah Oney, Ph.D., Chief Executive Officer of Dispatch. 'This work matters deeply to me, as it does to so many whose lives have been touched by cancer. We've built a strong scientific foundation, assembled an exceptional team and developed innovative technology that give us a real shot at making a difference. We are fully committed to doing everything we can for patients who urgently need new options.' Dispatch was established through a pivotal collaboration with the Parker Institute for Cancer Immunotherapy (PICI) and convergence of groundbreaking technologies from the laboratories of Andy Minn, M.D., Ph.D.; Carl June, M.D.; Chris Garcia, Ph.D.; and Kole Roybal, Ph.D. 'With this confluence of innovative technologies from the labs across PICI, we are poised to shift how cancer therapies are conceived,' said Sean Parker, founder and chairman of PICI, as well as a member of Dispatch's board of directors. "We can now pursue the ultimate goal – a universal cure for most solid tumor cancers – using cutting-edge modalities.' Renowned Leadership and Pioneering Scientists Since its founding in 2022, Dispatch has focused on building a world-class leadership team and executing its broad pipeline of programs. The founding team at Dispatch includes: Scientific Co-Founders Andy Minn, M.D., Ph.D., Chair of Immuno-Oncology at Memorial Sloan Kettering Cancer Center Carl June, M.D., PICI Center Director and the Richard W. Vague Professor in Immunotherapy in the Perelman School of Medicine at the University of Pennsylvania Chris Garcia, Ph.D., Professor of Structural Biology and Molecular and Cellular Physiology at Stanford School of Medicine, Stanford University Kole Roybal, Ph.D., PICI Center Director and Professor of Microbiology and Immunology at University of California, San Francisco Board of Directors Jeff Marrazzo, Chairman; Co-founder and Former CEO, Spark Therapeutics Jake Bauer, Venture Partner, ARCH Venture Partners John Connolly, Ph.D., Chief Scientific Officer, PICI Robert Nelsen, Co-founder and Managing Director, ARCH Venture Partners Sabah Oney, Ph.D., Chief Executive Officer, Dispatch Sean Parker, Founder and Chairman, PICI Steve Gillis, Ph.D., Managing Director, ARCH Venture Partners Leadership Team Sabah Oney, Ph.D., Chief Executive Officer Barbra Sasu, Ph.D., Chief Scientific Officer Chris Wiwi, Ph.D., Senior Vice President, Technical Operations Jennifer Flaisher, Chief People and Culture Officer Lex Johnson, Ph.D., Co-Founder and Chief Platform Officer Naveen Bazaj, Senior Vice President, Corporate Development Scientific Advisory Board Kole Roybal, Ph.D., University of California, San Francisco; SAB Chairman Andy Minn, M.D., Ph.D., Memorial Sloan Kettering Cancer Center Antoni Ribas, M.D., Ph.D., University of California, Los Angeles Anusha Kalbasi, M.D., Stanford University Brad Rosenberg, M.D., Ph.D., Icahn School of Medicine at Mount Sinai Carl June, M.D., University of Pennsylvania Chris Garcia, Ph.D., Stanford University Christine Brown, Ph.D., City of Hope David Kirn, M.D., 4D Molecular Therapeutics; University of California, Berkeley John Connolly, Ph.D., PICI Kristen Hege, M.D., University of California, San Francisco Lisa Coussens, M.D., Ph.D., FAACR, Oregon Health & Science University Matt Porteus, M.D., Ph.D., Stanford University Series A Funding to Support First-in-Human Studies The Series A syndicate includes founding investors ARCH Venture Partners and PICI, along with Bristol Myers Squibb, the University of Pennsylvania, Stanford University, and Alexandria Venture Investments. With this recently closed funding round, Dispatch has raised a total of $216 million to date. Proceeds from the financing will be used to advance the company's therapeutic candidates into first-in-human clinical studies and beyond, with the first program expected to enter the clinic in 2026. 'We are on the wave of a revolution in cancer therapy, where innovations like Dispatch's tumor-agnostic approach to immunotherapy have the potential to treat a majority of solid tumors,' said Steve Gillis, Ph.D., board member of Dispatch and managing director at ARCH Venture Partners. 'We are excited to support the Dispatch team as they continue to advance their programs.' About Dispatch Bio Established in 2022, Dispatch Bio was founded with a bold purpose: to help create a world where all cancer patients can be cured. To achieve this, the company is engineering a universal treatment across solid tumors, leveraging its first-in-class Flare platform. This novel approach combines the strengths of immunotherapy with a tumor-specific viral vector, both engineered to clear tumor cells with precision and power. Dispatch has operations in Philadelphia and San Francisco, with access to world-class researchers. To learn more, visit and follow us on LinkedIn and X. About the Parker Institute for Cancer Immunotherapy (PICI) The Parker Institute for Cancer Immunotherapy (PICI) is a 501c3 nonprofit organization driving the next generation of cancer treatment by accelerating the development of breakthrough immune therapies to turn all cancers into curable diseases. Founded in 2016 through the vision of Sean Parker, PICI unites the nation's top cancer centers into a collaborative consortium that fuels high-risk, high-reward science with shared goals, data, and infrastructure. Unlike traditional research models, PICI goes beyond discovery by actively advancing promising innovations through clinical testing, company formation and incubation, and commercialization. PICI has supported more than 1,000 investigators across its network and has a portfolio that includes 17 biotech ventures with over $4B raised in capital. PICI is uniquely positioned to close the gap between scientific discovery and patient access. By integrating scientific excellence with entrepreneurial execution, PICI is reimagining how cures are made, and accelerating their path to the people who need them most. Learn more at About ARCH Venture Partners ARCH Venture Partners creates and invests in groundbreaking life science and technology companies. The firm is a recognized leader in commercializing technologies developed at academic institutions, corporate research groups and national laboratories. ARCH invests primarily in companies it co-founds with leading scientists and entrepreneurs, bringing innovations in life sciences and physical sciences to market. For more information, visit
Yahoo
29-05-2025
- Business
- Yahoo
Parker Institute Showcases Breakthroughs in Immunotherapy at ASCO 2025 as CEO Dr. Karen Knudsen Receives Prestigious Honor
Glioblastoma survival extends to 14.6 months; dual-target CAR T shrinks tumors in 85% of patients—milestone results among 50+ presentations across the PICI Network CHICAGO, May 29, 2025--(BUSINESS WIRE)--As the global oncology community gathers for the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting (May 30–June 3), the Parker Institute for Cancer Immunotherapy (PICI) is demonstrating how bold science, accelerated through collaborative networks, can drive meaningful progress where patients need it most. At a pivotal moment when scientific breakthroughs in immunotherapy are arriving alongside heightened pressure for faster, smarter impact, PICI's integrated model shows how to compress timelines from discovery to patient care. PICI's presence spans more than 50 presentations including 16 oral sessions, 30+ poster sessions, 10 e-papers and a featured clinical science symposium. This volume reflects not only the strength of the PICI network but also a unique ability to support promising work early and help carry it across the finish line, from foundational discoveries to practice-changing trials. Glioblastoma Breakthroughs: New Hope for Cancer's Most Formidable Challenge After decades of limited progress in glioblastoma, where median survival has hovered around one year, multiple PICI-supported teams are reporting clinical responses that suggest the field may be turning a corner. These advances demonstrate how collaboration, persistence and innovation can converge on even the most intractable problems: Stanford Medicine researchers achieved median overall survival of 14.6 months in recurrent glioblastoma patients using B7H3 CAR T cells delivered directly to the brain via dual Ommaya reservoirs. The Phase 1 study established a recommended Phase 2 dose and demonstrated manageable inflammation using IL-1 blockade, offering a tangible advance in a cancer where meaningful clinical progress has long remained elusive. (Crystal Mackall, MD, Director of the PICI Center at Stanford; Michelle Monje, MD, PhD — Abstract #2018) University of Pennsylvania investigators reported tumor shrinkage in 85% of evaluable patients using bivalent CAR T-cell therapy targeting EGFR and IL13Rα2 in recurrent glioblastoma. Delivered into the cerebroventricular space without lymphodepletion, the engineered T cells persisted in cerebrospinal fluid and blood for up to one year, marking an encouraging step toward sustained response and long-term disease management. (Carl June, MD, Director of the PICI Center at Penn; Donald O'Rourke, MD — Abstract #102) UCSF and Memorial Sloan Kettering researchers identified more than 700 glioma-specific, splice-derived neoantigens using the SNIPP antigen discovery platform. These targets elicited CD8+ T-cell responses in vitro and many were conserved across tumors, opening the door to scalable, potentially off-the-shelf TCR-based therapies. (Hideho Okada, MD, PhD, UCSF — Abstract #2519) Leadership Recognition: PICI CEO Receives ASCO's Highest Honor Dr. Karen Knudsen, PICI's CEO, will receive the Allen S. Lichter Visionary Leader Award during ASCO's opening session, recognizing a career spent building bridges from bench to patient and helping reshape how academic institutions, nonprofits and companies move from insight to implementation. Saturday, May 31, 9:45 AM–12:00 PM CDT, Room N - Hall B1 Dr. Knudsen will also join Endpoints News for a live discussion on research acceleration, regulatory pace and how PICI's model aligns research, policy and investment with the realities facing patients today. Wednesday, June 4, 10:35 AM CDT, Endpoints Stage Network-Wide Impact: Where Discovery Meets Delivery PICI-supported science appears across the ASCO agenda, tackling critical questions in high-burden cancers through studies connected by a framework that enables speed, coordination and clinical relevance. These presentations reflect a hallmark of the PICI approach: compressing the distance between new insight and patient impact, often turning early-stage ideas into clinical action within just a few years. Melanoma Advances DREAMseq Final Results: Optimal treatment sequencing in BRAF-mutant metastatic melanoma (Jedd Wolchok, MD, PhD, Weill Cornell; Antoni Ribas, MD, PhD, UCLA — Abstract #9506) Quadruple Immunotherapy: IL-6 blockade combined with checkpoint inhibitors in advanced melanoma (F. Stephen Hodi, MD, Dana-Farber — Abstract #9510) Neoadjuvant Strategy: Pembrolizumab in clinical stage IIB/C melanoma (Alexander Huang, MD, University of Pennsylvania — Abstract #9502) Prostate Cancer Innovation COMRADE Trial: Olaparib plus radium-223 in castration-resistant prostate cancer with bone metastases (Eliezer Van Allen, MD, Dana-Farber — Abstract #5007) C3NIRA Trial: Triplet chemo-immunotherapy induction followed by PARP inhibitor maintenance (Padmanee Sharma, MD, PhD, MD Anderson — Abstract #5008) Breast and Lung Cancer Precision Strategies NeoSTAR Trial: Response-guided neoadjuvant sacituzumab govitecan plus pembrolizumab in early triple-negative breast cancer (Elizabeth Mittendorf, MD, PhD, Dana-Farber — Abstract #511) ADRIATIC Correlatives: Genomic analysis of long-term responders in limited-stage small cell lung cancer (David Barbie, MD, Dana-Farber — Abstract #8014) Translational Platforms INCIPIENT Trial: CARv3-TEAM-E immunological correlates in recurrent glioblastoma (Marcela Maus, MD, PhD, Massachusetts General Hospital — Abstract #2008) BRCA1/2 DNA Vaccines: Plasmid-based immunotherapy platform with and without IL-12 (Robert Vonderheide, MD, DPhil, University of Pennsylvania — Abstract #10505) About the Parker Institute for Cancer Immunotherapy The Parker Institute for Cancer Immunotherapy (PICI) accelerates breakthrough immune therapies from discovery to patient impact through a collaborative network of the nation's top cancer centers. Founded in 2016 through the vision of Sean Parker, PICI unites leading institutions in a translational engine built for speed, coordination and clinical relevance. Unlike traditional research models, PICI goes beyond discovery by actively advancing promising innovations through clinical testing, company formation, incubation and commercialization. PICI supports high-risk, high-reward science with shared goals, data and infrastructure, helping compress timelines from laboratory discovery to patient access. The institute has supported more than 1,000 investigators across its network and created a portfolio of 17 biotech ventures with over $4 billion in raised capital. By integrating scientific excellence with entrepreneurial execution, PICI is reimagining how cures are made and accelerating their path to the people who need them most. Learn more at Follow #PICIatASCO for updates throughout the meeting. View source version on Contacts Media Contact: Eric McKeebyHead of Communications & MarketingParker Institute for Cancer Immunotherapy(646) 522-4605emckeeby@
Business Wire
29-05-2025
- Health
- Business Wire
Parker Institute Showcases Breakthroughs in Immunotherapy at ASCO 2025 as CEO Dr. Karen Knudsen Receives Prestigious Honor
CHICAGO--(BUSINESS WIRE)--As the global oncology community gathers for the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting (May 30–June 3), the Parker Institute for Cancer Immunotherapy (PICI) is demonstrating how bold science, accelerated through collaborative networks, can drive meaningful progress where patients need it most. At a pivotal moment when scientific breakthroughs in immunotherapy are arriving alongside heightened pressure for faster, smarter impact, PICI's integrated model shows how to compress timelines from discovery to patient care. PICI's presence spans more than 50 presentations including 16 oral sessions, 30+ poster sessions, 10 e-papers and a featured clinical science symposium. This volume reflects not only the strength of the PICI network but also a unique ability to support promising work early and help carry it across the finish line, from foundational discoveries to practice-changing trials. Glioblastoma Breakthroughs: New Hope for Cancer's Most Formidable Challenge After decades of limited progress in glioblastoma, where median survival has hovered around one year, multiple PICI-supported teams are reporting clinical responses that suggest the field may be turning a corner. These advances demonstrate how collaboration, persistence and innovation can converge on even the most intractable problems: Stanford Medicine researchers achieved median overall survival of 14.6 months in recurrent glioblastoma patients using B7H3 CAR T cells delivered directly to the brain via dual Ommaya reservoirs. The Phase 1 study established a recommended Phase 2 dose and demonstrated manageable inflammation using IL-1 blockade, offering a tangible advance in a cancer where meaningful clinical progress has long remained elusive. (Crystal Mackall, MD, Director of the PICI Center at Stanford; Michelle Monje, MD, PhD — Abstract #2018) University of Pennsylvania investigators reported tumor shrinkage in 85% of evaluable patients using bivalent CAR T-cell therapy targeting EGFR and IL13Rα2 in recurrent glioblastoma. Delivered into the cerebroventricular space without lymphodepletion, the engineered T cells persisted in cerebrospinal fluid and blood for up to one year, marking an encouraging step toward sustained response and long-term disease management. (Carl June, MD, Director of the PICI Center at Penn; Donald O'Rourke, MD — Abstract #102) UCSF and Memorial Sloan Kettering researchers identified more than 700 glioma-specific, splice-derived neoantigens using the SNIPP antigen discovery platform. These targets elicited CD8+ T-cell responses in vitro and many were conserved across tumors, opening the door to scalable, potentially off-the-shelf TCR-based therapies. (Hideho Okada, MD, PhD, UCSF — Abstract #2519) Leadership Recognition: PICI CEO Receives ASCO's Highest Honor Dr. Karen Knudsen, PICI's CEO, will receive the Allen S. Lichter Visionary Leader Award during ASCO's opening session, recognizing a career spent building bridges from bench to patient and helping reshape how academic institutions, nonprofits and companies move from insight to implementation. Saturday, May 31, 9:45 AM–12:00 PM CDT, Room N - Hall B1 Dr. Knudsen will also join Endpoints News for a live discussion on research acceleration, regulatory pace and how PICI's model aligns research, policy and investment with the realities facing patients today. Wednesday, June 4, 10:35 AM CDT, Endpoints Stage Network-Wide Impact: Where Discovery Meets Delivery PICI-supported science appears across the ASCO agenda, tackling critical questions in high-burden cancers through studies connected by a framework that enables speed, coordination and clinical relevance. These presentations reflect a hallmark of the PICI approach: compressing the distance between new insight and patient impact, often turning early-stage ideas into clinical action within just a few years. Melanoma Advances DREAMseq Final Results: Optimal treatment sequencing in BRAF-mutant metastatic melanoma (Jedd Wolchok, MD, PhD, Weill Cornell; Antoni Ribas, MD, PhD, UCLA — Abstract #9506) Quadruple Immunotherapy: IL-6 blockade combined with checkpoint inhibitors in advanced melanoma (F. Stephen Hodi, MD, Dana-Farber — Abstract #9510) Neoadjuvant Strategy: Pembrolizumab in clinical stage IIB/C melanoma (Alexander Huang, MD, University of Pennsylvania — Abstract #9502) Prostate Cancer Innovation COMRADE Trial: Olaparib plus radium-223 in castration-resistant prostate cancer with bone metastases (Eliezer Van Allen, MD, Dana-Farber — Abstract #5007) C3NIRA Trial: Triplet chemo-immunotherapy induction followed by PARP inhibitor maintenance (Padmanee Sharma, MD, PhD, MD Anderson — Abstract #5008) Breast and Lung Cancer Precision Strategies NeoSTAR Trial: Response-guided neoadjuvant sacituzumab govitecan plus pembrolizumab in early triple-negative breast cancer (Elizabeth Mittendorf, MD, PhD, Dana-Farber — Abstract #511) ADRIATIC Correlatives: Genomic analysis of long-term responders in limited-stage small cell lung cancer (David Barbie, MD, Dana-Farber — Abstract #8014) Translational Platforms INCIPIENT Trial: CARv3-TEAM-E immunological correlates in recurrent glioblastoma (Marcela Maus, MD, PhD, Massachusetts General Hospital — Abstract #2008) BRCA1/2 DNA Vaccines: Plasmid-based immunotherapy platform with and without IL-12 (Robert Vonderheide, MD, DPhil, University of Pennsylvania — Abstract #10505) About the Parker Institute for Cancer Immunotherapy The Parker Institute for Cancer Immunotherapy (PICI) accelerates breakthrough immune therapies from discovery to patient impact through a collaborative network of the nation's top cancer centers. Founded in 2016 through the vision of Sean Parker, PICI unites leading institutions in a translational engine built for speed, coordination and clinical relevance. Unlike traditional research models, PICI goes beyond discovery by actively advancing promising innovations through clinical testing, company formation, incubation and commercialization. PICI supports high-risk, high-reward science with shared goals, data and infrastructure, helping compress timelines from laboratory discovery to patient access. The institute has supported more than 1,000 investigators across its network and created a portfolio of 17 biotech ventures with over $4 billion in raised capital. By integrating scientific excellence with entrepreneurial execution, PICI is reimagining how cures are made and accelerating their path to the people who need them most. Learn more at Follow #PICIatASCO for updates throughout the meeting.
Forbes
31-03-2025
- Business
- Forbes
As Trump Cuts Cancer Research Funding, Billionaire Sean Parker Wants To Scale It Up
Entrepreneur Sean Parker AFP via Getty Images Of all the cuts the Trump Administration has made, its attacks on medical research are some of the most baffling, threatening the ability for American scientists to keep developing new medicines to treat everything from cancer to Parkinson's. For billionaire Sean Parker, who told Forbes he's been heavily involved in lobbying to boost federal spending on medical research, that means philanthropies and the private sector will have to step in to fill some of the gap. 'We've seen this incredible, historic, unprecedented retreat from public funding,' Parker, 45, told Forbes. 'Which is really the engine that fuels the single most productive biotech innovation economy in the world.' In this environment, he also sees a bigger role for the Parker Institute for Cancer Immunotherapy (PICI), a philanthropic organization he founded nearly a decade ago with a $250 million grant that funds cancer research. It also invests in biotech companies turning that research into drugs. Parker poured in another $125 million in 2024, and said he's committed more funds towards the next round of grant funding, though he didn't disclose the amount. To date, PICI has spent over $300 million on nearly 500 academic projects that have resulted in the publication of over 4,000 papers and over 300 patents, largely focused on cancer immunotherapies — drugs that assist the body's own immune system to fight cancers. Seventeen biotech companies have spun up based on this research, collectively raising over $4 billion in venture capital (which includes funds that PICI has invested). PICI has conducted six clinical trials to test cancer treatments, including one that improved survival in pancreatic cancer patients, and its portfolio companies have 50 in various stages. 'In a world where [public] funding is being reduced, we are likely to see the more ambitious, interesting projects going unfunded because a simple, easy to understand project tends to be less risky,' he said. That's where PICI can step in. PICI's new CEO Karen Knudsen PICI As part of its effort, PICI announced that it's appointing former American Cancer Society CEO Karen Knudsen as its new chief executive in order to 'take the organization to the next level' and scale up its operations, Parker said. Knudsen, a cancer researcher who has a PhD in molecular biology, previously founded the Sidney Kimmel Cancer Center's prostate cancer program and led its cancer care programs as enterprise director. During her three-year tenure leading the American Cancer Society, the organization more than doubled the research grants it awarded. As CEO of PICI, she will oversee the institute's partnerships with multiple universities and cancer centers, including Stanford, the University of Pennsylvania, UCLA and others, as well as PICI's investments in biotech companies. As federal research funding is cut back, 'the level of risk tolerance shrinks,' Knudsen told Forbes. That leaves more ambitious projects in the lurch. But PICI has a flexible model, which was part of the appeal for Knudsen. The organization is able to quickly react to changes impacting the research landscape. For example, if the organization determined that a technology is 'absolutely critical and going to be the most game changing for cancer patients and it's not moving forward in another way,' PICI will shift more resources towards it, she said. InnovationRx is your weekly digest of healthcare news. To get it in your inbox every Wednesday, subscribe here. Among the startups PICI has backed so far are Arsenal Bio, which most recently raised a $325 million series C round that valued the company at $1.85 billion, according to Pitchbook. It is currently testing its cell therapies against kidney cancer and ovarian cancer on humans, and plans to begin trials for prostate cancer later this year. Another is Georgiamune, which has already begun clinical trials for a treatment targeting advanced metastatic cancers after it launched with a $75 million series A in August 2023. The work with startups is particularly important right now, Parker said, because biotech investments are declining as venture investors deal 'with a public equities market where there's very little interest in biotech.' The investments that do happen are largely for companies that are already in later stages with products well along the development path. While both Parker and Knudsen are adamant that their organization can't replace public funding, they think they can move science forward by backing bolder projects as governments and markets become more risk-averse. 'These are precisely the intensive market conditions which we're designed to weather or help others weather,' Parker said. 'It gives me a lot of motivation to continue doing what we're doing and double down on it.'
