Over the last financial year, Cancer Research UK has made good progress in its mission to beat cancer and is delivering significant impact for those affected by cancer and their loved ones, according to its latest Annual Report and Accounts, published today.  

Thanks to the generosity of its supporters, the charity continues to fund vital research to save and improve lives. This past year has seen encouraging progress across the five focus areas of its long-term strategy: Discover, Translate, Engage, Partner and Sustain. 

“Each year, we move closer to achieving our vision: bringing about a world where everybody lives longer, better lives, free from the fear of cancer,” said Michelle Mitchell, chief executive of Cancer Research UK. 

“This progress is only possible because of our incredible community of supporters, volunteers, staff and partners, so we want to say a big thank you to them.”  

Powering progress for patients  

Throughout 2024/25, the charity has strived to make progress for all patients, with investments in cancer prevention, diagnosis and treatment.  

With the charity’s funding, researchers at the University of Oxford have been able to start work on two world-leading cancer prevention vaccine projects: OvarianVax, which aims to protect women at higher risk of ovarian cancer, and Lynchvax, for people with a rare genetic condition called Lynch syndrome, which increases the risk of multiple cancer types. 

The charity also made a £173m multiyear investment into the Cancer Research UK Cambridge Institute, equipping world-class researchers to accelerate discovery science and unlock new insights into how cancers develop, grow and spread. 

At the same time, Cancer Research UK has remained dedicated to funding much-needed research into children’s and young people’s cancers. The C-Further initiative, pioneered by the charity’s innovation engine Cancer Research Horizons and LifeArc, received a £27m investment for research into more effective and less toxic targeted treatments for children and young people. 

The charity is also pleased to see the results from trials it helped fund. The PARTNER trial found that a new treatment combination can help treat breast cancers linked to BRCA mutations. CO21 CHALLENGE, presented at the American Society of Clinical Oncology (ASCO) 2025 annual meeting, also showed that a structured exercise routine for patients with colon cancer could cut their risk of death and cancer recurrence. 

Across 2024 and 2025, Cancer Research UK has continued to be one of the leading charity voices supporting the Tobacco and Vapes Bill, which would progressively raise the age of sale for tobacco each year. Smoking remains the UK’s biggest cause of cancer, so it’s vital the UK Government continues its work to pass the Bill and help create the first ever smokefree generation. 

Last year also saw the launch of Cancer Research UK’s refreshed equality, diversity and inclusion strategy, and work beginning on a comprehensive plan for reducing carbon emissions by 50% by 2030 and achieving net zero emissions by 2050. 

This is both a snapshot of the charity’s progress and a testament to the commitment and hard work of all its staff and volunteers. The charity has remained dedicated to ensuring its workforce feel like they belong and benefit from the work they do and was delighted to have been ranked12th in the Financial Times’ inaugural list of the UK’s 500 best employers. 

Success in the face of financial challenges  

These steps forward have come in a difficult economic climate. The cost of living crisis and inflationary pressures have continued to impact Cancer Research UK’s costs and spending abilities. Yet, despite these difficulties, the charity is pleased to report good financial performance. It remains on track to exceed its commitment to spending at least £1.5bn on research between 2021/22 and 2025/26.  

This year Cancer Research UK spent £403m on new and ongoing research, surpassing last financial year’s total by £4m. This would not have been possible without the charity’s supporters, who have been instrumental in raising a total income of £735m through areas such as fundraising, legacies, philanthropy and investment – £51m more than in 2023/24. 

The charity’s philanthropy campaign ‘More Research, Less Cancer’ has played a pivotal part in that success. In the year since its public launch, the campaign has raised more than half of its £200m target. 

“We’re pleased with our results and are looking to the future with confidence and optimism that our vital work will continue to save and improve lives,” said Mitchell. “However, we also remain focused on the challenges, which include higher cost of living, inflation, and tough conditions on the high street which continue to impact the retail sector. 

“In response to these challenges, we’re making some important decisions to ensure we’re set up for future success and adapting to a changing world. We’re investing in growth and impact, embracing innovation – from AI to data driven science and operations – while keeping costs under control to be able to fund even more research.” 

A future of progress 

The charity is committed to building on this progress as it looks to the year ahead. However, the ongoing challenges in the healthcare system remain clear.  

Although NHS staff are working tirelessly, thousands of people across the UK are still waiting too long for tests and treatments. Since December 2015, the NHS has been unable to meet its referral to treatment standard, which requires that 85% of people diagnosed with cancer begin their first treatment within 62 days of an urgent referral.  

With the upcoming National Cancer Plan for England, the UK Government has a vital opportunity to implement effective strategies so more people are diagnosed earlier and survive longer. The charity remains confident that new discoveries and treatments will continue to improve survival rates. 

“We will not stop. Step by step, day by day, we’re outsmarting cancer through earlier diagnosis and kinder, more effective treatments. Through partnerships with scientists, industry, governments and supporters, we’re accelerating progress in how we prevent, diagnose and treat cancer,” said Mitchell. 

“Together, we can give millions of people more precious time with their loved ones. Together we are beating cancer.”