Austin Man Offers $1 Billion for Cancer Cure

By: Associated Press Email
By: Associated Press Email

DALLAS (AP) - Mike Dewey has a plan to eliminate breast cancer.
He's offering $1 billion to the person who discovers the cure.

Never mind that the 48-year-old Austin consultant has nothing
close to that much money. Dewey says he'll come up with the cash.

He's motivated by his wife's battle with breast cancer and the
knowledge that his daughters are at increased risk for the disease.

Dewey says he's raised about $22 million in pledges and about $90,000 in actual donations through his nonprofit foundation. He's unfazed by the fact that he's still quite a bit short of $1 billion and some experts are critical of his idea. He's certain the money will roll in if there's a cure.

Arthur Caplan is the chairman of the department of medical ethics at the University of Pennsylvania in Philadelphia. He says Dewey's plan seems naive.

But Dewey isn't alone in feeling some impatience with the pace of research. Dr. David Euhus is a surgical oncologist at the University of Texas Southwestern Medical Center. He says he's noticed that those making grants are willing to take bolder steps because they're "getting a little frustrated" by the slow pace of traditional research.

Dewey says some people think his idea is wacky, but that others
are intrigued.

Australian businessman and investor Toby Davidson said he has
pledged $1 million to the foundation after meeting Dewey last year.
He says he hopes to be writing that check one day.

Dewey's wife, Barbara, has been cancer-free since surgery following her diagnosis in 2000, six years before Dewey founded his nonprofit Dewey Foundation.

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