PORTLAND, Ore. -- Nike founder Phil Knight and his wife, Penny, are donating $100 million to Oregon Health & Science University's Cancer Center.

The Knights and OHSU announced the private donation, the largest in OHSU's history, Wednesday. OHSU will rename the state's only National Cancer Institute the OHSU Knight Cancer Institute.

The first $2 million of the gift will be used toward a newly named Linda Conant Laboratory Suite, named after a friend of the Knight family who died of breast cancer in January. The remaining $98 million will be used at the discretion of the institute's director, cancer researcher Dr. Brian Druker.

"Brian Druker is nothing short of a genius and a visionary," Knight said. "Unfortunately, cancer touches all of our lives. Penny and I believe because of the work of Dr. Druker and his talented staff that the Linda Conants of the future will have more quality years to spend with their loved ones."

According to an OHSU release, the donation represents a critical step toward achieving the cancer institute's goal to make Oregon's cancer death rate the lowest in the nation.

"We deeply appreciate the Knights' extraordinary generosity," OHSU President Dr. Joseph Robertson said. "This opportunity will allow a most deserving and capable physician-scientist to fulfill the vision we share with the Knights — to win the war on cancer in Oregon and beyond."