Canadian gold mining company Agnico Eagle gives $10 million to enable game-changing cancer discoveries at Princess Margaret Cancer Centre

Agnico Eagle's cumulative gift surpasses $25 million, making it one of the largest corporate charitable investments in Canadian history.

TORONTO, May 27, 2021 /CNW/ - The Princess Margaret Cancer Foundation has received a transformational $10 million gift from Canadian gold mining company Agnico Eagle to fund revolutionary research and enhance capacity of the clinical trials program at Princess Margaret Cancer Centre, Canada's preeminent cancer centre and top five in the world.

The $10 million investment will support The Princess Margaret's Grand Challenges competition, a program that awards grants to bold, innovative and high-impact projects that show promise of advancing cancer diagnoses and treatments to cure more patients and improve quality of life of those living with cancer.

"Agnico Eagle's historic gift to The Princess Margaret supports the best and brightest researchers working to accelerate discovery and innovation in cancer care," said Dr. Keith Stewart, Vice President Cancer, University Health Network. "This transformational investment allows our scientists to pursue bold, game-changing ideas that will revolutionize the way we detect and treat cancers, benefitting millions of cancer patients around the world."

The funds will support two key areas of progress: detecting cancers earlier and intercepting them while still curable, and continuing to identify more precise, customized therapies that effectively target cancer to each individual patient.

A portion of the gift will also support enhancing the capacity of the Cancer Clinical Research Unit at Princess Margaret Cancer Centre, Canada's largest clinical trials program.  This will help the cancer centre accelerate the translation of breakthrough treatments– like those discovered through our Grand Challenges competition-- from labs to patients as new standards of care. 

With this visionary contribution, Agnico Eagle's support of The Princess Margaret surpasses the $25 million cumulative threshold, placing them at the highest echelons of corporate generosity with one the largest corporate charitable investments in Canadian history.

"Now more than ever, support from Corporate Canada is critical to help accelerate life-saving cancer research and to improve the quality of life for so many", said Sean Boyd, Agnico Eagle's Vice-Chair and CEO. "For Agnico, we look to prioritize our social investment in areas that show promise of greatest impact-- and The Princess Margaret fits the bill, leading the world in advancing cancer diagnoses and treatments to cure more patients and improve quality of life of those living with cancer."

With 617 Canadians being diagnosed with cancer every day, Boyd hopes that the high-impact work accomplished through their partnership with The Princess Margaret will inspire other Canadian corporations to make similar meaningful investments to accelerate life-saving cancer research. This, at a time when investments in cancer research are unprecedentedly critical. 

"The COVID-19 pandemic has exacerbated an already unsteady funding climate," said Dr. Stewart. "This strain on funding threatens our vibrant research ecosystem — especially research at the cusp of discovery, and younger, early-career scientists who face long-term setbacks to their work."

For Janice Fukakusa, Board Chair of The Princess Margaret Cancer Foundation, this transformational corporate gift calls attention to the role and opportunity for Canadian corporations to make a genuine difference in the communities which they serve.

"We are immensely grateful for Agnico Eagle's long-standing partnership" said Ms. Fukakusa, "This investment will help us continue to attract and retain brilliant scientists from the world's top institutions, and will help ensure the stable funding platform required to pursue the game-changing discoveries for which we are known."

About The Princess Margaret Cancer Foundation

The Princess Margaret Cancer Foundation is Canada's largest cancer charity dedicated to raising funds for Princess Margaret Cancer Centre, Canada's preeminent cancer centre and top 5 in the world, known for its game-changing scientific achievements and exceptional patient treatment and care. Through philanthropy, events, our world-leading home lottery program and commercialization initiatives, we make possible the critical funding required to accelerate cancer research, education and clinical care -- benefitting patients at Princess Margaret Cancer Centre and beyond. Join us in bringing real hope to Canadians and patients worldwide living with cancer. Invest in ending cancer today at thepmcf.ca/donate.

About Princess Margaret Cancer Centre

Princess Margaret Cancer Centre has achieved an international reputation as a global leader in the fight against cancer and delivering personalized cancer medicine. The Princess Margaret, one of the top five international cancer research centres, is a member of the University Health Network, which also includes Toronto General Hospital, Toronto Western Hospital, Toronto Rehabilitation Institute and the Michener Institute for Education at UHN. All are research hospitals affiliated with the University of Toronto. For more information: www.theprincessmargaret.ca

About Agnico Eagle

Agnico Eagle is a senior Canadian gold mining company, producing precious metals from operations in Canada, Finland and Mexico. It has a pipeline of high-quality exploration and development projects in these countries as well as in the United States and Colombia. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading environmental, social and governance practices. The Company was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

SOURCE Princess Margaret Cancer Foundation