TORONTO, Ont. – Nearly 4,000 cyclists have raised $16-million in the third annual Ride to Conquer Cancer for Princess Margaret Hospital.

The ride began yesterday morning on Canadian National Exhibition (CNE) grounds and ends today in Niagara Falls.

For the past few years, the annual 2-day event has taken riders on a 200-kilometre journey to the falls. This year an additional 200-mile route was added for cyclists.

“Despite the fact that it is grey, overcast and a little chilly, the mood is unbelievable. People are so ready to get on the road and get riding, maybe because they want to warm up a little bit. But everyone is just so jazzed about doing this ride,” said Steve Merker, Chief Cycling Officer for the Princess Margaret Hospital.

In the past 2 years the ride has raised over $28-million dollars for the Princess Margaret Hospital, for critical cancer research.

In 2010, an estimated 173,800 new cases of cancer will be diagnosed and 76,200 cancer deaths will occur. Princess Margaret is Canada’s leading and only cancer centre entirely dedicated to cancer research and care. For more information on the the hospital click here.