MMRF awards $1 million to biotech firms

The funding is part of the organizations LEAD program to drive and accelerate the development of innovative and effective multiple myeloma treatments. The Multiple Myeloma Research Foundation (MMRF) will commit up to $6 million over the next two to three years in support of this program.

“Today, funding for preclinical research and early-stage clinical trials is extremely limited,” said Kathy Giusti, CEO of MMRF. “The MMRF is investing directly to biotechnology companies for this research that is not typically funded by NIH, private foundations, or venture capital firms.”

Semafore will use the funding to develop its compound, SF1126 in a phase I trial. Preclinically SF1126 inhibits angiogenesis, induces apoptosis, controls upstream and downstream signaling and produces synergistic anti-tumor effects in combination with chemotherapy and radiation.

“This funding leverages all the preclinical work performed with SF1126 and comes at a perfect time for the company as we initiate phase I solid-tumor focused clinical trials and now are in a position to take on this expansion of our target patient population.” said Dr Joseph Garlich, Semafore president and chief scientist.

Prochon said the new resources would help it develop PRO-001, a treatment for patients who have a subtype of multiple myeloma that has a very poor prognosis. PRO-001 is a completely human, highly specific antibody and this grant will enable preclinical and clinical testing of the promising potential exhibited in cell culture.