Multiple Myeloma Research Foundation (MMRF) Venture Philanthropy Fund Invests in NexImmune to Advance Novel Immunotherapy Candidate Into Clinical Trials
Partnership yields the first investment from newly launched MMRF Myeloma Investment Fund
GAITHERSBURG, Md. and NORWALK, Conn., April 29, 2019 (GLOBE NEWSWIRE) — NexImmune and the Multiple Myeloma Research Foundation (MMRF) have entered into a partnership to advance a promising new therapy into clinical trials for multiple myeloma patients.
The MMRF’s newly formed Myeloma Investment Fund aims to attract the most promising companies and technologies to the field to advance new therapies for myeloma patients. The MIF has made an equity investment in NexImmune to help support the initial clinical development of NEXI-002, which is one of the company’s lead product candidates, and to help further develop the Company’s Artificial Immune Modulatory (AIM) technology platform.
“Regrettably, multiple myeloma remains an incurable malignancy. Patients who are refractory to standard treatments, or who have relapsed disease after at least three prior therapies, face a very poor prognosis. Newly approved, targeted agents have significantly improved short-term outcomes for these patients, however, most will eventually develop drug resistance and succumb to their disease within one year. This highlights the need for novel therapies with curative potential,” said Scott Carmer, President and CEO of NexImmune. “That’s why we are very excited to partner with the MMRF to make our AIM adoptive cellular therapy (ACT) available to this specific patient population.”
NexImmune is advancing immunotherapy products based on the Company’s proprietary Artificial Immune Modulatory (AIM) nanotechnology platform. The AIM technology enables simultaneous enrichment, expansion and priming of cytotoxic CD8+ T cells directed against multiple tumor-associated antigen (TAA) targets across a broad range of both solid and hematologic malignancies.
NEX-I002 is designed to generate cytotoxic T cells directed against multiple tumor antigens associated with MM. The Company has completed pre-IND discussions with the FDA, and expects to submit an IND to support this Phase I/II clinical trial in 3Q2019.
“Investments made by the Myeloma Investment Fund underscore the commitment of the MMRF to bring the most promising immunotherapy agents to myeloma patients as quickly as possible,” commented Paul Giusti, President and CEO of the MMRF. “We chose to partner with NexImmune because of the potential for this technology to benefit highly refractory patients who have limited treatment options and significant unmet need.”
NexImmune is an early stage biopharmaceutical company developing novel immuno-therapeutics based on the proprietary Artificial Immune Modulation (AIM™) nanotechnology platform. Central to the AIM™ technology are artificial Antigen Presenting Cells (aAPC) that can be engineered to orchestrate a highly targeted immune attack directed toward specific foreign substances or cell types in the body. In preclinical studies, aAPCs have demonstrated potential utility as both injectable and cellular therapeutic agents. NexImmune is using the AIM technology platform to develop a pipeline of products to treat cancer and auto-immune diseases. For more information visit: www.neximmune.com
About The Multiple Myeloma Research Foundation
A pioneer in precision medicine, the Multiple Myeloma Research Foundation (MMRF) seeks to find a cure for multiple myeloma by relentlessly pursuing innovation that accelerates the development of next-generation treatments to extend the lives of patients. Founded in 1998 by Kathy Giusti, a multiple myeloma patient, and her twin sister Karen Andrews as a 501(c)(3) nonprofit organization, the MMRF is a world-recognized leader in cancer research, launching over 70 clinical trials and leading to 10 FDA-approved drugs. Together with its partners, the MMRF has created the only end-to-end solution in precision medicine. With this, the MMRF, a pioneer in precision medicine, continues to disrupt the industry today, building CoMMpass Study, the single largest genomic dataset for any cancer, and launching MyDRUG, the first platform trial in multiple myeloma. Since its inception, the organization has collected over 4,000 samples and tissues in its database, which is shared among 22 academic institutions. The MMRF has raised over $400 million and directs nearly 90% of the total funds to research and related programs. To learn more, visit www.themmrf.org.
About the Myeloma Investment Fund
The Myeloma Investment Fund is a venture philanthropy fund that advances the science and accelerates novel therapies and diagnostics to ensure that multiple myeloma patients get access to the best new targets and technologies. Founded by the Multiple Myeloma Research Foundation (MMRF), the fund is a $50 million fund. This self-sustaining fund will invest in seed, early-stage or series A funding for emerging biotech companies and/or asset management companies. For more information, visit MyelomaInvestmentFund.org.
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