23 September 2009
With the blessing of Jeanne Pratt and the Pratt Family, Friends-R-4 have initiated efforts to establish on ongoing legacy in prostate cancer in the name of Richard Pratt, who died as a result of the disease in 2009.
The 'Richard Pratt Fellowship in Prostate Cancer' will be represented by an amount of $100,000 being awarded annually in perpetuity, to fund a fellowship involving translational research into prostate cancer.
Each year the Pratt Foundation will advertise the availablity of a Richard Pratt Fellowhip in Prostate Cancer and assemble a selection panel to determine the successful applicant.
The fellowship will be funded by the interest generated by investing a corpus of $2.3 million - a figure reached through the use of an actuary - and this corpus will be held and managed in a Trust which will be part of Pratt Philanthropy.
As of September 2009, the Victorian Government has committed $500,000 toward this amount.
A subcommittee, led by Michael Naphtali, has been formed to raise the required remaining funds on behalf of Friends-R-4. Other members of this subcommittee include Leonard Yaffe, Dr. Derik Braham and Max Hampel.
The Richard Pratt Fellowship in Prostate Cancer will be officially launched by Friends-R-4 in 2010.
For more information about the Richard Pratt Fellowships in Prostate Cancer, visit the project page.