image: City of Hope, one of the largest and most advanced cancer research and treatment organizations in the U.S. and ranked among the nation’s top 5 cancer centers by U.S. News & World Report, has received a historic $150 million gift from A. Emmet Stephenson Jr., founder and senior partner of private equity firm Stephenson Ventures, and Tessa Stephenson Brand, entrepreneur and philanthropist. (Photo Credit: City of Hope)
Credit: City of Hope
LOS ANGELES — City of Hope®, one of the largest and most advanced cancer research and treatment organizations in the U.S. and ranked among the nation’s top 5 cancer centers by U.S. News & World Report, has received a historic $150 million gift from entrepreneurs and philanthropists A. Emmet Stephenson Jr. and his daughter Tessa Stephenson Brand to immediately fund pancreatic cancer research.
The centerpiece of this gift is the $1 million Stephenson Prize, one of the largest privately funded awards for scientific investigation, which will be awarded annually to a leading scientist or team making the most promising advancements in pancreatic cancer research, treatment and cures. The prize is open to individual investigators and teams driving innovation at institutions around the world. The first prize will be awarded in 2025.
The gift equals nearly two-thirds of the total annual research budget for pancreatic cancer from the National Cancer Institute (NCI), and it will drive the trajectory for pancreatic cancer early detection and treatment.
Pancreatic cancer remains one of the deadliest cancer types worldwide, resulting in the third-most cancer deaths of any cancer type and the worst average five-year survival rate (13%). This lethal cancer is notoriously hard to detect, and the disease is resistant to many new therapies. In addition, there are significant disparities in incidence among African American and Hispanic communities. Despite all this, pancreatic cancer research is significantly underfunded.
The Stephensons’ investment is in honor of Toni Stephenson, loving wife and mother who, after surviving lymphoma, passed away from pancreatic cancer in 2020. Emmet and Toni met in kindergarten and were happily married for nearly 53 years.
“We want to ignite interest and encourage pancreatic cancer research worldwide. We know that cancer discoveries require significant funding, which is why Tessa and I believe multiple elements of this gift will make a difference in fighting this terrible disease,” said A. Emmet Stephenson Jr. “This initiative is a purposeful investment to spur ingenuity and ensure that the most promising advances move forward as fast as possible. We believe City of Hope is an excellent partner for this program to facilitate lifesaving work.”
“The Stephensons are entrepreneurs who believe in groundbreaking innovation, and City of Hope is a pioneer driving transformational change in cancer care. We are honored to receive their visionary gift, the single largest in City of Hope’s 111-year history,” said Robert Stone, CEO of City of Hope and the Helen and Morgan Chu Chief Executive Officer Distinguished Chair. “It is evidence that City of Hope is best positioned to catalyze collaboration among the nation’s top scientific minds, disrupting traditional research models and accelerating breakthroughs that ultimately lead to cures.”
City of Hope is uniquely qualified to build this innovative approach to pancreatic cancer research and discovery. As an NCI-designated comprehensive cancer center, City of Hope translates leading-edge research into effective treatments through partnership and scientific exploration.
The $150 million Stephenson gift will fund and support several other research initiatives, including:
-
Establishment of the Stephenson Fellows Program, which will award grants to researchers and support their work in pancreatic cancer
-
An annual Stephenson Pancreatic Cancer Research Symposium that, together with grants awarded through the Stephenson Fellows Program, will support innovative ideas and promote scientific collaboration
-
Immediate funding to advance novel immunotherapies and support groundbreaking clinical research in pancreatic cancer, and further investment in City of Hope’s Toni Stephenson Lymphoma Center
-
A pancreatic biorepository at City of Hope that will enhance genomic-informed patient care, aid in early disease detection, deepen understanding of cancer biology and immune response, and contribute to developing innovative therapies.
“The Stephenson Prize is a unique and important opportunity for scientists and physician investigators to work with each other and with like-minded research teams on the common goal of advancing care and treatment options for people with pancreatic cancer,” said Daniel D. Von Hoff, M.D., a pioneer and world leader in translational medicine and distinguished professor in the Molecular Medicine Division at Translational Genomics Research Institute, part of City of Hope.
“The Stephensons’ generosity is a shining example of how unconventional and forward-thinking philanthropists can push lifesaving medicine to new heights, and the vital role philanthropy plays in powering cancer discoveries that are saving lives,” said Kristin Bertell, chief philanthropy officer at City of Hope. “This family’s loss became an inspiration for hope, and we are honored they chose us as a partner to realize their vision.”
For more information about the Stephenson Prize for Innovation in Pancreatic Cancer, visit: www.cityofhope.org/stephenson-prize.
About City of Hope
City of Hope's mission is to make hope a reality for all touched by cancer and diabetes. Founded in 1913, City of Hope has grown into one of the largest and most advanced cancer research and treatment organizations in the U.S., and one of the leading research centers for diabetes and other life-threatening illnesses. City of Hope research has been the basis for numerous breakthrough cancer medicines, as well as human synthetic insulin and monoclonal antibodies. With an independent, National Cancer Institute-designated comprehensive cancer center that is ranked top 5 in the nation for cancer care by U.S. News & World Report at its core, City of Hope’s uniquely integrated model spans cancer care, research and development, academics and training, and a broad philanthropy program that powers its work. City of Hope’s growing national system includes its Los Angeles campus, a network of clinical care locations across Southern California, a new cancer center in Orange County, California, and cancer treatment centers and outpatient facilities in the Atlanta, Chicago and Phoenix areas. City of Hope’s affiliated group of organizations includes Translational Genomics Research Institute and AccessHopeTM. For more information about City of Hope, follow us on Facebook, X, YouTube, Instagram and LinkedIn.
###