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Between declining government funding for research and a difficult drug development arena marked by higher costs, greater risk, and more competition for less capital, multiple myeloma is at a crossroads. Cures are within reach, but to realize them, the community needs to confront these challenges head-on—something the Multiple Myeloma Research Foundation (MMRF) is uniquely poised to do. 

One of the most important ways we’ll push the field forward now is through the Myeloma Investment Fund (MIF), our venture philanthropy arm. Over the last six years, the MIF has helped advance six treatments to clinical trials, invested $23 million in 20 companies, and generated a two-to-fourfold return on its initial investment in three of those companies.  

Now, the MIF is scaling up when myeloma needs it most and will soon become a self-sustaining, evergreen fund— reinvesting all the returns it generates into new companies and ideas.  

The MIF is the first and only mission-driven philanthropic venture fund focused on accelerating a cure for multiple myeloma. The MIF provides biotechnology companies with financial and strategic support, access to data, and connections to investors, researchers, and pharma representatives.  

Not only that, but the MIF leverages the MMRF’s vast expertise and its more than 25 years at the forefront of myeloma research.  

“We join the boards of many of these companies and play an important advisory role,” said MIF Managing Director Stephanie Oestreich, PhD, MPA. 

The companies the MIF invests in are developing some of the most transformative potential treatments in myeloma—with a special focus on relapsed patients who have run out of options. 

“An estimated 70 percent of new therapeutic targets are being developed by venture-backed companies, and only 30 percent are with pharma,” Oestreich said. “Venture capital like the kind the MIF provides is critical to move tomorrow’s innovations forward.”  

MIF investments provide funding at a pivotal point in the drug development process, when early breakthroughs are at risk of stalling because they lack funding or direction. By stepping in at this phase, the MIF helps bridge the gap between research and real-world application.  

“At a time when early-stage funding is harder to secure than ever, the MIF’s early support is essential—helping companies attract more investors and ensure that the best new ideas in myeloma don’t get left behind,” the MMRF’s President and Chief Executive Officer Michael Andreini said.  

MIF-backed companies are working on some of the most exciting new technologies and developments today: next-generation CAR T-cell designs and treatments (such as in vivo CAR T, which engineer T-cells in a patient’s body instead of a lab), natural killer celldirected therapies, antibody-drug conjugates (which have revolutionized treatment of other cancers), and more. Our portfolio also includes companies investigating novel ways to improve patients’ immune response to better recognize, attack, and kill myeloma cells.  

The companies the MIF invests in are also highly regarded. In fact, in September, two such companies—Umoja and Stylus Medicine—made Endpoints’ annual list of the 11 most exciting biotech startups of 2025. Endpoints is one of the most prestigious news outlets covering biopharma, and its annual Endpoints 11 list is highly anticipated in the field—representing “the best and the brightest in biotech.”   

Andrew Scharenberg, MD, the co-founder and CEO of Umoja Biopharma, which the MIF invested in at the start of 2025, said that having the backing of the MIF and MMRF is crucial in more ways than one.  

“Because the MIF and MMRF are trusted by doctors and scientists, their support helps open doors,” he said. “When others see that the MIF believes in what we’re doing, it gives them confidence that our work is promising and based on solid science. That support helps us move faster and bring new treatments to patients sooner.” 

The final day of IMS 2025 brought a powerful close to the meeting, underscoring how far the field has come in advancing personalized care for myeloma patients. From promising new drugs to smarter ways of tailoring treatment using biomarkers, today’s presentations made it clear: The future of myeloma therapy is not just about more options—it’s about better-matched options.

Researchers are now focusing on how to deliver the right treatment to the right patient at the right time, using tools like genetic profiling and immune markers to guide decisions.

Read on for what stood out to us.

New Treatments on the Horizon for Patients at All Stages of Disease

Day four showcased a pipeline of innovative treatments poised to transform myeloma care, from precision-targeted therapies that could redefine treatment standards to enhanced delivery methods that are more convenient for patients.

Strengthening Maintenance Therapy

As doctors work to improve myeloma treatments, researchers are studying whether using more than one treatment for maintenance therapy can help lower the chance of relapse. In a phase 3 study, patients who took a combination of Darzalex and Revlimid for two years did much better at keeping myeloma to very low, almost undetectable levels, compared to patients who took Revlimid alone. Just as important, the side effects were mild and very similar to what patients usually experience with Revlimid by itself. As discussed on day 3, these studies are especially important for patients who may have a higher risk of their disease returning quickly.

The Increasingly Important Role of Biomarkers

During the last day of IMS, we also heard updates on the growing role of biomarkers—biological signs in the body that help doctors better understand each patient’s type of myeloma. These discoveries build on earlier research from the MMRF’s CoMMpassSM study, which is one of the most important studies ever conducted to better understand new targets for drug development and define which patients are more likely to have aggressive disease. Researchers across the field continue to leverage CoMMpass data.

These updates reflect a powerful shift in how myeloma is being treated—from relying solely on standard drug regimens to using a deeper understanding of each patient’s unique disease to guide care. As more targeted therapies and biomarker-driven tools move closer to routine use, the path forward looks increasingly personalized, offering new hope for better outcomes and a higher quality of life for patients at every stage of their journey.

Day three of IMS 2025 brought into focus three transformative trends reshaping multiple myeloma care: emerging effective strategies for early relapse, making powerful treatments more accessible to patients, and bringing later-line therapies to earlier stages of treatment.

Here, the MMRF recaps what stood out from today’s sessions.

Experts Highlight Strategies for Managing Early Relapse

The first plenary session of the day brought several myeloma experts together to outline key considerations for managing early relapse.

These discussions signal a future where earlier intervention, innovative therapies, and collaborative decision-making can significantly improve outcomes for patients facing relapse.

Expanding Access to Bispecifics

Bispecific antibody therapies are typically given in hospital settings because they come with the risk of complications like cytokine release syndrome (CRS), a common, flu-like side effect of T cell-engaging treatments that can cause fevers, chills, and low blood pressure. Because of this, access to these powerful treatments is more limited.

We were excited to hear data at IMS showing that bispecific antibody therapies can safely be given in the community setting, without requiring a hospital stay, enabling more patients to greater access.

Bringing Later Line Therapies Upfront

With numerous promising treatments now available for multiple myeloma, determining the optimal timing and sequence of therapies has become increasingly important to improve outcomes and patients’ quality of life. This has been a research focus at the MMRF through our innovative Horizon Clinical Trials Program conducted in collaboration with 14 leading cancer centers.

We were excited to hear and share research updates from our colleagues who are similarly examining the potential of giving treatments to newly diagnosed patients or patients with precursor disease that have been shown to be highly effective in relapsed/refractory patients.

Updates on New Treatments for Patients with Relapsed/Refractory Myeloma

We conclude by sharing exciting updates on arlo-cel, a type of CAR T-cell therapy that targets GPRC5D. We shared promising results from a phase 1 study on the first day of IMS. Today, researchers presented data from a second study that showed similarly encouraging results. In this phase 1 study of 31 relapsed/refractory patients who had received one to three prior lines of therapy, 96% responded to arlo-cel. Side effects—including CRS, loss of taste, and nerve-related symptoms—were common but mostly mild and resolved on their own.

Day three’s presentations demonstrate how myeloma care is evolving to become more accessible and strategically timed—bringing us closer to more personalized strategies that maximize both effectiveness and patients’ quality of life.

Saturday marks the final day of the IMS 2025 meeting. Stay tuned for highlights from the concluding sessions.

MMRF continues to drive the critical global research collaborations that lead to scientific breakthroughs and improved patient outcomes

Norwalk, Conn., September 20, 2025 – Today, the Multiple Myeloma Research Foundation® (MMRF) announced that data generated from several MMRF initiatives were presented at the prestigious 22nd International Myeloma Society (IMS) Annual Meeting. The MMRF team presented five posters, while new findings from its Immune Atlas and CoMMpass℠ programs underpinned 18 additional presentations, reflecting the organization’s unique ability to drive key discoveries, collaborative research, and innovative clinical trials in multiple myeloma.

“Year after year, the MMRF leads research that accelerates the pace of discovery and directly translates into better treatments for patients with multiple myeloma,” said MMRF Chief Scientific Officer George Mulligan, PhD. “Insights from MMRF-led programs are powered by our large clinical and genomic datasets as well as our innovative clinical trial platforms. These demonstrate how our collaborative, data-driven approach is fueling discoveries to deepen our understanding of multiple myeloma.”

The novel MMRF-led research presented at IMS 2025 demonstrates the impact of the foundation’s flagship programs and illustrates how the MMRF’s approach to integrating research within trials addresses key questions that other trials cannot. Among the highlights:

In addition, the MMRF presented two reports highlighting the positive impact of the organization’s patient education and navigation programs. These initiatives empower people diagnosed with multiple myeloma to optimize their care, better communicate with their healthcare teams, and improve their outcomes.

Abstracts Presented by MMRF
Title: Daratumumab-based Quadruplet Therapy in Functional High-risk Relapse/Refractory Multiple Myeloma Patients Induces Changes Associated with CD8 T Cell Activation and Expansion in the Immune Microenvironment
Abstract: PA-204

Title: CoMMpass Explorer: An Interactive Platform to Explore Clinico-Genomic Data from Newly Diagnosed Multiple Myeloma Patients from the CoMMpass Observational Trial
Abstract: PA-205

Title: Exploration of Tumor Immune Gene Expression to Stratify Progression Risk in Newly Diagnosed Multiple Myeloma Patients from CoMMpass With 1q Cytogenetic Abnormality
Abstract: PA-230

Title: Assessing Positive Behavioral Change in Myeloma Care: An MMRF Longitudinal Study
Abstract: PA-111

Title: Navigating Myeloma: Behavioral and Emotional Outcomes from a Patient-Centered Navigation Resource
Abstract: PA-112

Abstracts on MMRF Immune Atlas Program
Title: Longitudinal Multi-Omic Profiling Uncovers Immune Escape and Predictors of Response in Multiple Myeloma
Abstract: OA-73

Title: Integrating Microenvironment with Tumor Multi-Omic using Unsupervised Machine Learning to Model Heterogeneity Refines Multiple Myeloma Subtypes and Reveals Immune-Based Clusters with Prognostic Impact
Abstract: PA-234

Title: Ancestry-Associated Dysregulation of the Bone Marrow T Cell Compartment in Multiple Myeloma Revealed via scRNA-seq and CyTOF Profiling
Abstract: PA-254

Title: Multi-hit Cytogenetics Risk Events Associated with IFN-I Suppression across TME of NDMM Patients and Poor Outcomes
Abstract: PA-255

Title: Elevated Levels of Circulating Tumor Cells (CTCs) in Newly-Diagnosed Multiple Myeloma (NDMM) Patients Reflect a Highly Proliferative and Genomically Complex Profile
Abstract: PA-231

About Multiple Myeloma
Multiple myeloma is a cancer of the plasma cells that develops in bone marrow. This year, an estimated 35,750 new cases of multiple myeloma will be diagnosed—making it the second-most common blood cancer in the U.S.—and 12,590 people will die from the disease. New targeted agents and therapies have resulted in better outcomes, but most multiple myeloma patients eventually relapse.

About the Multiple Myeloma Research Foundation (MMRF)
The Multiple Myeloma Research Foundation (MMRF) is the largest nonprofit in the world solely focused on accelerating a cure for each and every multiple myeloma patient. We drive the development and delivery of next-generation therapies, leverage data to identify optimal and more personalized treatment approaches, and empower myeloma patients and the broader community with information and resources to extend their lives. Central to our mission is our commitment to advancing access so that all myeloma patients can benefit from the scientific and clinical advances we pursue. Since our inception, the MMRF has raised over $600 million for research, opened nearly 100 clinical trials, and helped bring 15+ FDA-approved therapies to market, which have tripled the life expectancy of myeloma patients. To learn more, visit www.themmrf.org.

Media Contact:
Adam Silverstein, Scient PR: [email protected]

Day two of IMS 2025 reinforced a central theme: Innovation in multiple myeloma treatment is expanding at every stage of the patient journey. From new options for newly diagnosed patients to groundbreaking multi-target CAR T therapies for those facing relapsed disease, researchers are pushing the boundaries of what’s possible while never losing sight of the ultimate goal—delivering safe and effective new treatments to every patient who needs them. 

Today’s presentations highlighted both the potential of emerging therapies and the critical importance of understanding their real-world impact on patients’ lives.  

Here MMRF highlights the latest developments. 

New Treatments for Newly Diagnosed Patients 

One recent study looked at Iberdomide combined with two other medicines: Darzalex (an antibody treatment) and dexamethasone (a steroid). This was tested in 77 patients who were unable to have a stem cell transplant. The results were very promising: More than 90% of patients responded to the treatment and nearly 80% of patients had their disease stay under control for at least a year. Only three patients discontinued treatment due to adverse effects. 

Researchers will continue following these patients to see how long the benefits last and to better understand how well this treatment works over time.  

Multi-Target CAR T-Cell Therapies 

New CAR T-cell therapies are being designed to attack more than one target on myeloma cells. This may help prevent myeloma from becoming resistant to treatment. Today’s presentations highlighted two unique ways of reaching this goal: 

In both studies, side effects were manageable, with no serious long-term neurological problems. 

Weighing the Risk/Benefits of Currently Approved CAR T-Cell Therapies  

Abecma, also known as ide-cel, and Carvykti, also known as cilta-cel, are the first CAR T-cell therapies approved for relapsed/refractory multiple myeloma. They work by targeting a protein called BCMA on myeloma cells. Both therapies continue to draw attention as potent treatment options, though many patients can experience significant side effects from either of them. 

Two important studies presented at IMS provided valuable insights for patients and providers weighing CAR T treatment decisions: 

Together, these studies reinforce that making the decision to have CAR T-cell therapy requires weighing not only clinical outcomes and safety concerns but also understanding how the therapy can affect patients’ quality of life and long-term well-being. 

As we continue our coverage from Toronto, we’re encouraged by the depth of innovation happening across the myeloma research community and the field’s commitment to balancing clinical effectiveness, safety, and the patient experience. 

Stay tuned for tomorrow’s highlights and more updates from IMS 2025 all meeting long. 

This week, the International Myeloma Society (IMS) is hosting its 22nd Annual Meeting—the world’s largest gathering of multiple myeloma researchers and clinicians. The MMRF team is on the ground in Toronto attending scientific sessions, connecting with experts, and bringing you real-time coverage of the latest breakthroughs.

Over the next four days, we’ll highlight the most promising research and key insights shaping the future of myeloma treatment. Much of the science being presented is closely aligned with MMRF’s strategic research priorities and addresses critical unmet needs in patient care, including:

Here’s what captured our attention on day one.

New Treatments on the Horizon for Relapsed/Refractory Patients

Data from early-phase studies of several new treatments were very encouraging, particularly for groups of patients who have exhausted current treatment options. Here are three with exciting potential:

While the results of these studies are promising, more work is needed to figure out how well they compare to currently approved myeloma treatments.

Treatments for Patients with High-Risk Disease

Patients with high-risk multiple myeloma face a more aggressive and treatment-resistant form of the disease, so they often have a worse prognosis. Research is needed to find and improve effective strategies for newly diagnosed and relapsed patients who fall into this high-risk category.

Several abstracts highlighted encouraging progress in this area. One standout study looked at the combination of Talvey (talquetamab) and Tecvayli (teclistamab) in patients with relapsed/refractory multiple myeloma and extramedullary disease—a group of patients who have myeloma in other organs of the body beyond the bone marrow. Nearly 80% of patients responded to this combination of bispecifics.

Importantly, the combination of Talvey and Tecvayli worked better for patients than either drug by itself. In fact, about twice as many people improved with the combination compared to just one of the treatments.

We are encouraged by these developments and will continue to monitor advancements in this important area of research.

Stay tuned for more daily highlights and expert perspectives from the conference this week.

Several presentations at the 2025 American Society of Clinical Oncology (ASCO) and European Hematology Association (EHA) Annual Meetings introduced new and updated study data in multiple myeloma (MM), along with potentially significant advancements in therapy. Data presented at the meetings included the following:

 

Data Reinforces Daratumumab Quads as a Gold Standard in NDMM

Data from the CEPHEUS, PERSEUS, and ADVANCE trials confirm daratumumab-based quadruplet regimens as the new frontline standard for NDMM, delivering superior MRD negativity and survival benefits regardless of transplant eligibility.

Phase 3 CEPHEUS trial: dara-VRd

Phase 3 PERSEUS trial: dara-VRd with dara-len maintenance

Phase 2 ADVANCE trial: dara-KRd

 

Isatuximab Quads Break New Ground in High-Risk Myeloma

Isatuximab-based quadruplet regimens significantly deepen MRD negativity in high-risk patients, offering new hope for improved long-term outcomes.

Phase 2 GMMG-CONCEPT trial: isa-KRd

Phase 3 IMROZ study: isa-VRd

Phase 3 IsKia trial: isa-KRd

 

MRD-Guided Strategies Show Promise

Rather than trying to achieve universal MRD negativity, the MIDAS and PREDATOR trials demonstrate that MRD status informs key treatment decisions—such as whether to proceed with or defer stem cell transplantation or intervene early upon MRD recurrence—enabling more individualized strategies for patients.

Phase 3 MIDAS trial: isa-KRd

Phase 2 PREDATOR-MRD trial: daratumumab or observation for MRD reappearance

Investigating Elranatamab For Transplant-Ineligible NDMM

Use of elranatamab for TIE NDMM patients highlights the expanding arsenal of next-generation therapies aiming to improve outcomes and personalize care for patients.

Phase 3 MagnetisMM-6 trial: elranatamab-DR

Relapsed MM Immunotherapies: Progress in Early and Late Disease

In early relapse, belamaf and isatuximab (via subcutaneous administration) demonstrate significant value. Late-relapse patients benefit from advances in bispecific antibodies—linvoseltamab and talquetamab—and CAR T-cell therapies. Notably, long-term data from CARTITUDE-1 on the use of ciltacabtagene autoleucel (cilta-cel), now published in the Journal of Clinical Oncology, marks a major milestone in long-term outcomes for late-relapse treatment.

Phase 3 DREAMM-8 trial: belamaf-Pd vs PVd

Phase 3 IRAKLIA study: pomalidomide + dex + isatuximab (SC or IV)

Phase 1b LINKER-MM2 trial: linvoseltamab + bortezomib or linvoseltamab + carfilzomib

Phase 1b TRIMM-3 study: talquetamab + cetrelimab

Phase 2 IMMAGINE-1 study of anito-cel

Long-Term Results From CARTITUDE-1 Redefining Outcomes in Late-Relapse Myeloma

Trispecific Antibodies Reveal the Next Frontier for RRMM

First-in-human phase 1 data for two novel trispecific antibodies demonstrated impressive response rates and manageable safety profiles in heavily pretreated RRMM.

Phase 1 first-in-human dose-escalation study of ISB 2001

Phase 1 first-in-human study of JNJ-79635322

 

CTCs as an Independent Risk Factor

One study assessed the independent prognostic value of circulating tumor cells (CTCs) and determined their applicability to clinical practice. Investigators collected data from 2,446 NDMM patients from multiple centers in Europe. High CTC levels (≥1%) were strongly correlated to inferior PFS (HR 1.18, 95% CI 1.12−1.24, P<0.001). The study showed that CTCs are an independent risk factor in NDMM and that a cutoff in the range of 0.01−0.1% is useful in categorizing progression risk.

 

Jointly provided by the MMRF and RedMedEd.

 

Support for this activity has been provided through sponsorships from Legend Biotech USA Inc., Pfizer Inc., and Sanofi and by educational grants from AbbVie Inc. and Janssen Biotech, Inc., administered by Janssen Scientific Affairs, LLC.

 

If you or a loved one has been exploring treatment options for relapsed or refractory multiple myeloma, you may have heard of CAR T-cell therapy—a highly effective treatment option that reprograms your own immune system to fight cancer.

In a pivotal move, the FDA recently removed the Risk Evaluation and Mitigation Strategy (REMS) requirements for CAR T-cell therapies used in multiple myeloma. REMS are specialized safety programs that CAR T centers must follow to minimize the risk associated with the treatment. Other treatments for multiple myeloma have REMS programs in place.

This decision marks a major shift in how these therapies can be delivered—and it’s one that could open doors for patients who were previously unable to benefit from CAR T.

Removing REMS Means Removing Roadblocks

Limited treatment centers, burdensome pre-approvals, and strict inpatient administration rules have made CAR T difficult to access for many patients and providers. By removing REMS, the FDA has helped streamline the pathway to treatment.

One of the most promising effects of this change?

Reaching patients who’ve been historically underserved.

Right now, only about 20% of eligible myeloma patients receive CAR T therapy, largely due to where they live. Patients in rural or underserved areas often face long-distance travel and financial hurdles that put CAR T out of reach. Without REMS, more treatment centers can begin offering CAR T, potentially improving access in these regions and allowing more patients to receive timely care.

Paving the Way for Progress

As CAR T becomes more accessible, the MMRF sees even greater opportunities on the horizon. This momentum is essential in our mission to accelerate precision medicine and improve outcomes for all myeloma patients.

A Vote of Confidence in the Myeloma Community

The FDA’s decision is more than a policy shift. It’s a signal of trust in the hematology/oncology community. It shows that providers have demonstrated the knowledge and experience needed to manage the risks associated with CAR T, such as cytokine release syndrome (CRS) and immune effector cell-associated neurotoxicity syndrome (ICANS), without the need for special certifications or safety checks.

What This Means for Patients

If CAR T isn’t an option for you because of where you live, this change could be the turning point. Now is the time to speak with your care team about whether CAR T is a fit for you, and to revisit clinical trial opportunities that may have been previously out of reach.

You can ask your doctor:

For more support and guidance, the MMRF Patient Navigation Center is here to help you understand your options, connect to care, and navigate the next steps in your myeloma journey.