WATERTOWN, Mass., July 11, 2024 — Dynamic Cell Therapies (DCT) announces an investment of $1M from the Myeloma Investment Fund (MIF), the venture philanthropy subsidiary of the Multiple Myeloma Research Foundation (MMRF), to accelerate the development of novel CAR T-cell technologies for patients with multiple myeloma. DCT is developing technology platforms that will allow CAR T-cells to attack unique and differentiated tumor targets that will allow for durable responses to treatment, and DCT’s propriety CAR T-cells have demonstrated superiority to FDA-approved CAR T-cells in animal models. These technology platforms will improve the safety and efficacy of CAR T-cell therapies and have immediate application for patients with hematological cancers, including multiple myeloma. Supported by this recent investment, DCT is on track to advance a product into patients within the next two years.
“Despite current successes in treating patients with CAR T-cells, many patients with multiple myeloma still relapse after therapy,” said Fred Mermelstein, Ph.D., Chief Executive Officer of DCT. “The support of the MMRF & the Myeloma Investment Fund provides key expertise that will enable us to hasten the development of novel and best-in-class CAR T-cell therapies for patients with relapsed and refractory multiple myeloma.”
“At the MMRF, we are deeply committed to advancing novel treatments intended to improve patient outcomes and get us closer to cures. We are energized by DCT’s cutting-edge cell therapy approach as a potentially transformative answer to patients with relapsed or refractory myeloma,” said Michael Andreini, President and CEO of the Multiple Myeloma Research Foundation (MMRF).
About the Myeloma Investment Fund (MIF)
The Myeloma Investment Fund is a venture philanthropy fund that invests in promising companies, clinical assets, and technologies in oncology to drive the development of new therapies for multiple myeloma. The MIF collaborates closely with portfolio companies to help them advance multiple myeloma research. This evergreen fund is supported entirely by philanthropy; all profits will be reinvested back into research for more effective treatments until there is a cure for every patient. For more information, visit www.myelomainvestmentfund.org
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 health equity so that all myeloma patients can benefit from the scientific and clinical advances we pursue. Since our inception, the MMRF has committed 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
For MMRF or MIF media inquiries, please contact: Anna Otis, Manager, Brand Marketing, [email protected]
About Dynamic Cell Therapies, Inc. (DCT)
Dynamic Cell Therapies (DCT) is a pre-clinical stage biopharmaceutical company engineering CAR T-cells to address unmet medical needs for patients with cancers and autoimmune diseases. DCT has licensed technology from the Dana-Farber Cancer Institute, including redirectable CAR T-cell and private cytokine signaling technologies. Redirectable CAR T-cells can maximize tumor cell killing and minimize toxicity. Private cytokine signaling can enhance memory populations, which increases CAR T-cells’ persistence and durable responses. DCT is developing these technologies separately and in combination to optimize control of CAR T-cell identity and activity. To learn more, visit www.dynamiccelltherapies.com.
For any DCT inquiries, please contact: Alex Rabby, Chief Business Officer, [email protected]
