Cancer is a widespread cause of death, but unfortunately "cancer" is a very broad category. Just because two illnesses are both classified as cancer doesn't mean they'll respond to the same drugs/treatment. We're finding a lot more success with tailored approaches than creating new drugs.

I think one of the most promising approaches to treatment is discussed here: http://www.ted.com/talks/jay_bradner_open_source_cancer_rese...

I have a friend who works at American Cancer Society. I asked him the best place to donate to, and he said Livestrong Foundation. I don't know his reasoning, but he's brilliant and incredibly knowledgeable about cancer.