Funds going to Canadian BRCA 1/2 Prostate Cancer Network that will collect data on male carriers of the BRCA1 and BRCA2 gene mutations who are at risk of aggressive prostate cancer
TORONTO, April 19 /CNW/ - CIBC (CM: TSX;NYSE) is donating $120,000 towards the Canadian BRCA 1/2 Prostate Cancer Network, a new research initiative led by Prostate Cancer Canada. This national collaborative network will pull together expertise from five leading prostate cancer research institutions - University of British Columbia, Sunnybrook Hospital, Princess Margaret Hospital, McGill University (CUSM) and Université de Montreal (CHUM) - to collect data on male carriers of the BRCA1 and BRCA2 gene mutations. These men are at risk of aggressive prostate cancer.
Studies have shown that these gene mutations lead to a highly increased risk of breast cancer in women. Early work has indicated that male relatives of these women have a higher susceptibility to developing prostate cancer - up to a 22-fold greater risk.
"CIBC's funding will help support important work in genetic sequencing for this rare mutation," said Steve Jones, President and CEO of Prostate Cancer Canada. "Only through this genetic sequencing and collaboration will clinicians be able to identify enough patients to form a database for further research and trials. This specific work is not being done anywhere else in the country."
"This initiative is all about saving lives and improving diagnostic ability," added Jones. "Early diagnosis and recognition of aggressive forms of the disease in these men can lead to new treatments and approaches for disease prevention. We greatly appreciate CIBC's support in making this important research possible."
"Many are unaware that prostate cancer is the most common cancer among Canadian men, afflicting one in six," said Richard Nesbitt, Chairman and CEO of CIBC's wholesale banking business and a former director of Prostate Cancer Canada. "CIBC has rallied behind this cause and we are proud to support research and education that will help to find a cure for prostate cancer."
CIBC is also making two additional $15,000 contributions in support of Movember, an annual campaign encouraging men to grow and groom a moustache to raise awareness of prostate cancer; and Prostate Cancer Canada's annual Wake Up Call Breakfast series.
In December 2009, CIBC's wholesale banking business was named the top Movember fundraising team in Canada, raising $203,000 for Prostate Cancer Canada. In addition, the team won the Bay Street Challenge, raising the most money of participating Bay Street firms and was also named the No. 2 fundraising team in the world.
In the last five years, CIBC has also committed $19 million to hospitals and research centres across Canada.
CIBC is committed to supporting causes that matter to our clients, employees and our communities. We aim to make a difference in communities through corporate donations, sponsorships and the volunteer spirit of employees. With a strategic focus on youth, education and health, and employee commitment to causes including the Canadian Breast Cancer Foundation CIBC Run for the Cure, the CIBC Children's Foundation and United Way, we are investing in the social and economic development of communities across the country. In 2009, $26.8 million was contributed through the CIBC group of companies to charitable and non-profit initiatives in Canada, supporting a wide variety of national, regional and local organizations. To learn more, visit www.communitymatters.cibc.com.
Prostate Cancer Canada is the only national foundation dedicated to the elimination of this disease through research, education, support and awareness. Our vision is to be a global leader in the fight against prostate cancer, earning the enthusiasm and support of Canadians through integrity, compassion and innovation. Visit prostatecancer.ca.
