The organizer of the annual Ride to Conquer Cancer  in Toronto says he believes the scandal surrounding disgraced cyclist Lance Armstrong will  not hurt the fund-raising effort.

Steve Merker is Vice President of  Business Development at The Princess Margaret Hospital Foundation.

The latest rebuke to Armstrong comes from  the International Olympic Committee. It stripped Armstrong of his bronze medal from the 2000 Sydney Olympics.

The athlete  is reported to have admitted to doping  during the years when he dominated international cycling,  during a recorded interview with Oprah Winfrey.

The Ride to Conquer Cancer is an annual non-competitive cycling event  held in various locations across Canada and Australia that sees thousands of riders travel more than 200 kilometres over two days.