The Detroit-based has announced a ten-year, $25 million pledge from the Karmanos family, propelling its $125 million capital campaign past the halfway mark, Crain's Detroit Business reports.
In a silent phase for the past year, the campaign has raised nearly $70 million, which will support construction of a $47 million, four-story surgical and imaging addition to the Karmanos Cancer Center. The gifts will also fund radiation research in prostate cancer and upgrades to all existing clinics.
With this recent pledge, Peter Karmanos, Jr., chairman and CEO of Compuware Corp. and a member of the institute's board, has committed a total of $50 million to the institute, which is named for his wife, who died of breast cancer in 1989. In December 2005, the facility separated from the to become Michigan's only independent cancer research institute.
John Ruckdeschel, the institute's president and CEO, said he expects that the new building, enhanced technologies, and expanded research funded through a successful campaign will move the institute closer to a top-ten ranking among U.S. cancer centers by 2010. Noting that the institute already had several multi-million-dollar gifts in the pipeline, Ruckdeschel added, "We think we have the opportunity and the people to do it."