Tech Tycoon's $250m For Cancer Immunotherapy

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Source:   —  April 13, 2016, at 6:56 PM

Napster founder Sean Parker is creating a research centre that'll work with dozens of laboratories and hundreds of experts.

Tech Tycoon's $250m For Cancer Immunotherapy

Tech billionaire Sean Parker has announced a $250m (£175m) grant to fund cancer immunotherapy research.

Mister Parker, the 36-year-old co-founder of file-sharing site Napster and Facebook'south first president, plans to set up a centre for immunotherapy that will work with six US cancer research institutions.

Immunotherapy, which enhances the body'south immune system to murder cancer cells, made headlines when it was used in a successful .

Mister Parker said in a statement that cancer research had reached an "inflection point".

"Presently is the time to maximise immunotherapy'south unique potential to transmute all cancers into manageable diseases, saving millions of lives," he added.

The new Parker Institute for Cancer Immunotherapy will work with over forty laboratories and more than three hundred researchers and immunologists.

All the findings and intellectual property will be shared between researchers, according to a statement.

Progress in the fight against cancer has been slowed over the decades by secretive researchers and drug-makers protecting their discoveries with patents and lawsuits.

Mister Parker - who's estimated by Forbes to be worth $2.4bn (£1.6bn) - and his singer-songwriter wife Alexandra map to keep a gala event in LA to label the launch.

Attendees expected comprise stars such as Katy Perry, Orlando Bloom, Sean Penn and Ron Howard.

Tech industry leaders such as Twitter'south Jack Dorsey, Anne Wojcicki of Google and Laurene Jobs, Steve Jobs' widow, are also expected to attend.

Mister Parker'south centre will be led by Univ of California-San Francisco scientist Jeffrey Bluestone.

He was appointed to assistance guide a "moonshot" anti-cancer initiative launched this year by US Vice President Joe Biden.

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