The San Francisco-based Parker Institute for Cancer Immunotherapy (PICI) has announced a $125 million investment to expand its research efforts and accelerate the development of innovative cancer immunotherapies.

The largest commitment in PICI’s history comes on the heels of it establishing research centers at Gladstone Institutes, Dana-Farber Cancer Institute, and Weill Cornell Medicine over the past two years, bringing the total number of PICI research centers to seven. Over the next five years, the funding will be distributed as grants to PICI Network researchers to bolster and accelerate their research. In addition to its research efforts, PICI has invested in 17 biotech startup companies working on next-generation cancer immunotherapies.

“Cancer immunotherapy is at a critical inflection point, and we have a unique opportunity to make a profound impact on the lives of cancer patients,” said PICI founder and chair Sean Parker. “PICI has already helped to propel the field of immuno-oncology forward. We make big bets on bold research and enable the world’s brightest minds to focus on the toughest problems.”

(Photo credit: Getty Images/sanjeri)