Nevada Cancer Institute Foundation suspends fundraising

The Nevada Cancer Institute Foundation has suspended its fundraising activities after the University of California San Diego announced last week that it would shut the clinical practice on Jan. 31, with no substitute provider.

“When there is more certainty, the foundation will make decisions about its future,” according to a statement by the foundation.

The foundation emerged as an independent entity following the institute’s Chapter 11 bankruptcy filing one year ago. Its main goal was to fulfill a commitment to raise $20.8 million over five years to support UCSD’s work at the institute, but that has now become moot.

UCSD, which bought the institutes main building and the clinical practice out of bankruptcy, found the practice too small to be financially viable. Deed restrictions on the property also stymied efforts to sign new physician practices as tenants.

The foundation also owns the research building on the Summerlin campus and has been seeking tenants.

Contact reporter Tim O’Reiley at
toreiley@reviewjournal.com or 702-387-5290.

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