Proud Of Our History Statement of Purpose Dr. Frederick Banting Chairman's Letter Investing in Research Board of Trustees Grant Review Panel Board of Advisors Links Administration Contact Us Home » About Us » Proud Of Our History On June 4, 2005, the Banting Research Foundation will mark 80 years of financial support to young Canadian medical researchers. The discovery of insulin in 1921 by Drs. Frederick Banting and Charles Best was one of the most important medical achievements of the twentieth century. Few realized that the team succeeded in their research despite the lack of a track record and inadequate funding. To accomplish his dream of finding a cure for diabetes, Dr. Banting sold his car to help finance his medical research. At that time, there was no granting organization that supported medical research in Canada and research to produce insulin was considered unlikely to succeed. This discovery brought world recognition to Frederick G. Banting and his colleague, Charles H. Best, and to their supporter John J.R. MacLeod. Prior to the discovery of insulin there was no way to treat diabetics. Today, the lives of millions worldwide are prolonged through the use of this drug. Recognizing the need for an organization that would provide funds to assist Dr. Banting and his associates with ongoing research, a group of prominent citizens led by Sir William Mulock, then Chancellor of the University of Toronto proceeded to organized Canada's first foundation for medical research. On June 4, 1925, the Province of Ontario granted the Letters Patent to the Banting Research Foundation, named in honour of Dr. Banting and his young colleagues. Sir Robert Falconer, the then President of the University of Toronto, was the first Chairman of the Foundation, and Lieutenant Colonel R.W. Leonard was the first Honorary Secretary-Treasurer. The first fundraising campaign for the Foundation initiated by this group raised $450,000 from corporate and individual donations in 1925. These funds supported Dr. Banting's on-going research as well as other young researchers who had good ideas, but little money. In 1952 the Foundation received an endowment from the estate of Kate Taylor. Income from the Endowment Fund is used to support the research of young Canadian researchers. The Foundation will also assist researchers with indirect expenses, unlike many other agencies that restrict grants to equipment and to research. Once established in their field, many of our grantees subsequently succeed in securing grants from larger agencies such as the Canadian Institute of Medical Research, the Natural Sciences and Engineering Research Council, and the National Cancer Institute, to continue the research they began with the initial support received from The Banting Research Foundation. In many cases, the support of the Banting Research Foundation has been instrumental in launching the careers of many researchers, whose scientific discoveries are equal to, or of greater significance to that of Sir Frederick's discovery of insulin. The accomplishments of some of the Foundation's grantees are reflected in this report.