The Andrew McDonough B+ Foundation honors the life of Andrew McDonough. Andrew battled leukemia, septic shock, and complications of childhood cancer for 167 days before passing away on July 14, 2007, at the age of 14. Andrew’s B+ blood type became his family and friends’ motto throughout his fight against childhood cancer — to “Be Positive”.
Joe McDonough is Andrew’s dad and The President of the B+ Foundation, the first childhood cancer foundation investing in Oncoheroes Biosciences.
“I think the Oncoheroes team may be onto something here.” - Joe McDonough
McDonough’s family portrait, from left to right, Ali, Joe, Andrew and Chris
Hi Joe, to start with, it's easy to see how Andrew's legacy and life inspired you to create The B+ Foundation. Can you explain why you chose to focus the mission on research and family support?
It is very important for us to be both reactive and proactive in our mission. There are SO many families of kids with cancer struggling to pay their bills and we want to lessen the financial burden so that they can focus on what’s most important – the life or death battle of their child. We help literally thousands of families each year avoid eviction, buy their medicine that’s not covered by insurance, fix their cars so that they can get to treatment, and sadly, bury their children among other things. But, that’s not enough. We must make advances in research to at best, cure childhood cancers, or at the very least, find kinder and gentler treatment protocols so that our childhood cancer survivors do not have to face such a harsh road ahead with late-stage side effects.
Oncoheroes support from B+ Foundation is the first investment from a childhood cancer-specific foundation. Can you explain what caused you to consider supporting Oncoheroes?
Basically, I did my homework and I liked what I saw and what I heard. We have a very diversified portfolio of research that we have supported and this investment fits nicely.
What ultimately led B+ to make the decision to invest in Oncoheroes.
As noted above, we strive for a diversified portfolio of quality scientific projects and I think we need to find creative solutions to fighting childhood cancers. I think Oncoheroes has passionate, talented leadership that is trying a slightly different path and I think it worthy of investment. And, to have a financial stake in any upside is an attractive bonus.
Why do you think other non-profit organizations in the childhood cancer community should consider following The B+ Foundation's lead in supporting Oncoheroes?
There are a lot of wonderful scientific projects out there and everyone needs to do their homework. If they feel like investing in a somewhat unique opportunity with potential upside financial benefits, this could be right for them. There are no guarantees in any research project. But, personally, I think the Oncoheroes team may be onto something here.
This is not the first time you invest in a for-profit, what message do you have for other nonprofits that are concerned about supporting and investing in for-profit companies?
I get it. Virtually all of the research that we support falls to great investigators at hospitals and academic institutions. But, that doesn’t mean that there’s no great science being conducted in the for-profit arena. While we’ve had several for-profit companies approach us and simply want our money, Oncoheroes appears to want partners and wants to share the success should it happen. To me, it’s not an either/or question. It’s about developing the best portfolio of research investments.