Kravises Give Sloan Kettering $100-Million for Cancer Work

Private-equity billionaire Henry Kravis and his wife, Marie-Josée, have donated $100-million to Memorial Sloan Kettering Cancer Center to pursue research into gene-based treatments for cancer patients, reports The Wall Street Journal.

The gift will be formally announced Tuesday in conjunction with the launch of Memorial Sloan Kettering’s Center for Molecular Oncology. The new facility, to be named for the Kravises, will analyze patients’ DNA in hopes of matching them with drugs that target genetic mutations behind their illness.

Advances in genomics and cancer immunology are fostering optimism that science is poised to make major leaps in treatment, and opening wealthy donors’ wallets, the Journal says. Ludwig Cancer Research awarded $540-million in January to six institutions, including Memorial Sloan Kettering, and Nike co-founder Phil Knight offered a $500-million challenge grant in September to Oregon Health and Sciences University’s Knight Cancer Institute.