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Philanthropists Jason and Keely Krantz gifted the Mass General Cancer Center — a division of the Mass General Brigham system — the largest donation in its history, per a Wednesday press release.

In recognition of the contribution, the Cancer Center’s research division has been renamed the Krantz Family Center for Cancer Research. The money will be used to fund annual research projects, buy advanced lab technologies, and support an endowment for future sustainability.

Though the press release confirmed the Krantzs’ donation is the largest in the MGH Cancer Center’s history, it did not disclose the exact numerical amount of the donation.

“This gift from the Krantz family is pivotal for the future of cancer research,” said David F. M. Brown, president of MGH, in the Wednesday press release. “It is both a powerful recognition of the work that Mass General Cancer Center researchers have accomplished to date, and a critical boost for all the research that is still to come — the knowledge and solutions that we have sought for decades.”

Fifty MGH faculty members, appointed across several departments of Harvard Medical School, work in the Krantz Center. Their research includes cancer genomics, molecular diagnostics, drug discovery, and cellular immune therapies, among others.

A series of competitive annual awards will be available for these researchers, decided through both internal and external scientific review. The awards are organized into three categories of varying grant sizes. Quantum Awards consist of up to $2 million given to research that “transforms overall cancer understanding and treatment.” Breakthrough Awards consist of up to $1 million given to projects that “accelerate the most promising scientific concepts,” while Spark Awards gift awardees up to $100,000 to test new ideas.

According to Daniel A. Haber, the director of Mass General Cancer Center and the Krantz Center, the Krantzs’ donation will help scientists bring new treatments to patients quickly.

“This means that the time from discovery to an approved therapy can be dramatically shortened,” Haber said in the press release.

Jason Krantz, the founder and executive chairman of the data analytics and healthcare firm Definitive Healthcare, said he believes a breakthrough in cancer research requires large investments. “Cancer research is at a crossroads,” Krantz said in the Wednesday release. “We’ve seen incredible progress in the last decade, and yet cures for many forms of the disease remain out of reach.”

“Keely and I believe that by making this investment, we can enable a monumental change in how cancer is diagnosed and treated for patients everywhere,” he added.

Correction: September 29, 2023

A previous version of this article’s headline incorrectly stated that the Mass General Cancer Center had been renamed following the largest donation in its history. In fact, the center’s research division has been renamed.

—Staff writer Ammy M. Yuan can be reached at ammy.yuan@thecrimson.com.

—Staff writer Jade Lozada can be reached at jade.lozada@thecrimson.com.