Cancer is either an uncontrolled increase in mitosis (cell division) or the failure of the opposing cell death (apoptosis).
Inducing cell growth can firstly outstrip the counterbalance of apoptosis.
Secondly, the more a cell is induced to divide, especially past the Hayflick limit, the more likely the controls for mitosis are to fail or break down (e.g. by mutation in the genetic code.) This would cause an uninhibited cycle of growth...AKA cancer.