MORRISTOWN, NJ — A record-breaking $5 million donation to Atlantic Health will help advance cancer research and clinical trials across the health system, including efforts connected to Morristown Medical Center.
The gift, announced Wednesday, is the largest research-focused donation in Atlantic Health's history and will establish a permanent endowment supporting the development of new cancer treatments and improvements in patient care.
The donation comes from Bruce I. Jacobs and Kenneth N. Levy, co-founders of Florham Park-based Jacobs Levy Equity Management, in honor of the firm's 40th anniversary.
The newly established Jacobs Levy Clinical Research and Innovation Endowment will provide annual funding to Atlantic Health's Clinical Research and Innovation Institute, which oversees clinical research across the health system.
The funding will support cancer research at multiple Atlantic Health locations, potentially benefiting patients receiving treatment at Morristown Medical Center and other facilities.
According to Atlantic Health, the money will be directed toward promising oncology research proposals, including studies evaluating new cancer therapies, technologies and approaches to patient care.
The endowment will also support efforts to expand access to clinical trials and help early-stage research projects grow into larger initiatives.
"Our firm has long believed in the power of philanthropy to drive healthcare advances so it is immensely gratifying to know that this new endowment, as we commemorate four decades of pioneering investment research, will have a transformational impact on cancer care in New Jersey," Jacobs said.
The donation builds on a longstanding relationship between the businessmen, Atlantic Health and the Foundation for Morristown Medical Center.
Over the past 25 years, Jacobs Levy Equity Management has contributed more than $1.4 million toward patient care, research and other programs throughout the health system.
That includes a $1 million gift to establish the Jacobs Levy Genomic Medicine and Research Program, as well as contributions to the Chambers Center for Well-Being, Gagnon Cardiovascular Institute and Goryeb Children's Hospital.
"We're proud to build on the long-standing relationship between our firm and Atlantic Health and the Foundation for Morristown Medical Center to support the deeply devoted clinicians, researchers and change agents at Atlantic Health," Levy said.
Atlantic Health is currently conducting nearly 180 clinical trials, including early-stage studies focused on cancers of the brain, breast, gastrointestinal tract, ovaries and pancreas, along with melanoma, multiple myeloma and other forms of cancer.
The new endowment is intended to provide a lasting source of funding for research, rather than a one-time investment.
"Thanks to the tireless spirit of giving and foresight of Bruce Jacobs and Ken Levy, this major endowment will provide Atlantic Health clinicians with the resources to pursue novel approaches to medicine and advance cancer care for communities well into the future," said Saad Ehtisham, president and CEO of Atlantic Health.
Both Jacobs and Levy grew up in New Jersey and have lived with their families in Morris County for more than 30 years.
More information about Atlantic Health's cancer research programs is available at AtlanticHealth.org.
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