Funds that invest in the fight against cancer: investing in oncology companies
Updated:
4 FEB, 2026
The World Cancer Day, which is celebrated today, Wednesday, February 4, aims to increase awareness and mobilize society to advance in the prevention and control of this disease. In addition, this day gives us the opportunity to explore how investment can contribute to the fight against this disease.
In this context, several investment funds specialized in oncology stand out, which not only offer potential profitability for investors, but also support research and development of cancer treatments. Investing in this type of strategies, which contribute to promoting research and development of solutions that can save lives, offers a series of advantages: potential for growth, diversification, social impact, exposure to innovation...
Which funds invest in the fight against cancer?
More and more companies are researching to find a cure for this disease and save lives. Below, we show you two funds that currently exist in the market to fight against cancer. The good thing about investing in this type of funds is that, in addition to helping in the research of the cure for cancer and other diseases, the investor can be rewarded.
Candriam Equities L Oncology Impact
Servas Michielssens, Head of Healthcare Candriam
Candriam Equities L Oncology Impact is an equity fund that invests globally in companies involved in the fight against cancer. The investment universe focuses on companies with a market capitalization of over 100 million US dollars that make a significant contribution to cancer treatment in four main areas: diagnosis and research, pharmaceuticals and biotechnology, medical technology, and big data and artificial intelligence.
The fund's portfolio is composed of between 30 and 60 high conviction positions, and the fund donates 10% of its net management fee to cancer-related associations in various European countries. In Spain, this donation is made to the Spanish Association Against Cancer.
Recent data highlight both the progress made in cancer care and the magnitude of the challenges that still persist. In its latest annual report published in January 2026, the American Cancer Society points out that the five-year relative survival rate for all combined cancers has reached 70% in people diagnosed between 2015 and 2021, compared to 49% in the period 1975–1977, a clear indicator of decades of advances in prevention, early diagnosis and treatment.
This momentum is backed by a powerful innovation engine operating on a large scale. IQVIA estimates that global spending on cancer drugs increased to $223 billion in 2023 and could reach $409 billion in 2028, reflecting the continuous launch and wider use of effective therapies. In 2025, the FDA approved 16 new cancer drugs and authorized another 36 existing drugs for new indications. Progress continues, with over 2,000 new clinical trials in oncology; this area concentrates the highest proportion of clinical trials. Many of them explore next-generation precision oncology modalities, such as antibody-drug conjugates, multispecific antibodies, radioligand therapies, and cell therapies.
Advances in diagnosis progress in parallel. Artificial intelligence is beginning to improve early detection while alleviating capacity limitations: a Swedish screening trial (with over 100,000 women) showed that AI-assisted mammography detected 29% more cancers and reduced by 44% the number of tests that required a radiologist's review. Minimally invasive approaches are also advancing, including FDA approval of a blood-based colorectal cancer screening test, a significant step towards earlier detection.
Despite all these advances, unmet needs remain high. The World Health Organization predicts 35 million new cases of cancer in 2050, compared to 20 million cases in 2022. This is partially related to the aging of the population, but it is also worrying that the incidence of cancer in people under 50 has increased by 79% in the last three decades, according to a study published in the BMJ Oncology journal.
Last year the healthcare sector began to change its trend and the advances made by innovative companies in the fight against cancer were once again recognized in the financial markets. The agreements reached between the biopharmaceutical companies and the Trump administration acted as an important catalyst for the reevaluation of the sector. Although healthcare sector stocks have recovered from their lows, valuations remain near historically low levels relative to the overall market, despite the strong prospects for structural growth in the sector, backed by demographic trends and continuous innovation.
Janus Henderson Global Life Sciences
Andy Acker, portfolio manager of the Healthcare and Biotech strategies at Janus Henderson
The health sector closed 2024 marked by political and regulatory uncertainty, which depressed profitability and led companies to trade at historically low price/earnings multiples. However, 2025 marked a change of cycle: several risks began to dissipate, visibility increased on drug price reform and the market perceived ways to avoid severe pharmaceutical tariffs. In addition, the Food and Drug Administration (FDA) showed a more favorable tone, meeting review deadlines in 2025 and launching programs to accelerate approvals.
In this context, 2026 could open an attractive risk/reward opportunity window, especially on two fronts:
- Emerging Biotechnology (small & mid caps):
After suffering heavy falls in 2025 (more than -40% in the first part of the year), the subsector has recovered since April. The rebound is supported by the perception that the FDA continues to operate normally despite cuts, and agreements such as Pfizer's with the White House, which reinforce the idea that the sector can adapt to adverse regulatory scenarios.
Looking ahead to 2026, continuity in improvement is expected, driven by lower rates, reopening of appetite for longer duration assets and, above all, by an increase in mergers and acquisitions; as large pharmaceutical companies need to compensate for the loss of revenue due to patent expirations. Small and medium-sized biotechs appear as the main beneficiaries, concentrating much of the innovation and being priority purchase targets.
- Diversified Pharmaceuticals:
Large pharmaceutical companies have also rebounded as the scope of pricing and tariff policies becomes clear. The impact on margins is considered "manageable" if the price drop is offset by higher volumes. The case of Eli Lilly and Novo Nordisk is cited, who cut prices of their GLP-1 drugs to gain access to public coverage (Medicare and Medicaid), while receiving regulatory incentives to accelerate oral versions in 2026.
The central message is that, in the face of persistent pressures on prices and a significant "patent cliff" until 2030, the focus should be on companies with solid and diversified portfolios, industrial capacity and cash generation, which could also serve as a defensive refuge if macroeconomic volatility increases.
