INTERNATIONAL MYELOMA FOUNDATION AND GOLDMAN PHILANTHROPIC PARTNERSHIPS CO-SPONSOR NEW RESEARCH PROGRAM

Inspired Venture Program in Multiple Myeloma to Fund Breakthrough Research

August 6, 2002  FOR IMMEDIATE RELEASE

LOS ANGELES—To turn innovative research ideas in curing multiple myeloma into scientific breakthroughs, the International Myeloma Foundation (IMF) today announced that it will co-sponsor a new research program with the Chicago-based Goldman Philanthropic Partnerships (GPP).

The new venture, the Inspired Venture Program in Multiple Myeloma, is designed to earmark funds for innovative research projects that will yield groundbreaking results in treating multiple myeloma, a little-known, devastating cancer of the bone marrow for which there is presently no known cure.

Multiple myeloma destroys bone, leaving patients so fragile a simple sneeze might result in a fractured rib. At any given time, there are approximately 75,000 to 100,000 people living with myeloma in the United States, and the disease is one of the fastest-growing cancers in the Western world with more than 15,000 cases diagnosed each year.

Despite its high numbers and devastating effects, the public, both patients and physicians, remain unaware of multiple myeloma. Although myeloma represents 1 percent of all cancers and 2 percent of cancer deaths, it receives less than one-tenth of 1 percent of available government research funding. As a result, funding via private organizations, such as the IMF and GPP, is critical.

"Multiple myeloma is one of the deadliest cancers, and it will take a concerted fundraising effort driven by public/private partnerships to expedite the search for a cure," said IMF President Susie Novis. The IMF has been funding myeloma research via its Brian D. Novis Research Grant Program since 1995. To date, the IMF has awarded more than $3 million dollars to 42 researchers working in 11 countries around the world. The IMF annually awards both Junior ($40,000) and Senior ($80,000) research grants.

Founded in November 1998 by Lake Forest, Illinois entrepreneurs George and Judith Goldman, the mission of the Goldman Philanthropic Partnerships is to inspire new advances in medicine by seeking out innovative research and exceptional treatment options to cure cancer and other catastrophic diseases. Innovative research projects are considered to be high-risk/high reward, the impact of which, if successful, would produce a significant breakthrough. GPP advances cutting edge research projects by forging key funding partnerships with foundations, universities, government and industry partners to apply venture philanthropy principles to the research process.

"The Inspired Venture Program in Multiple Myeloma is unique in that it applies business accountability to the cancer research process," said GPP President Dr. Bruce E. Bloom. "Not only will donors have an opportunity to target their donations, but they will also be able to travel down the path of scientific discovery with creative researchers in pursuit of a cure for this deadly disease."

The new Inspired Venture Program in Multiple Myeloma will successfully allocate funding to support "high-risk/high-reward" research projects that will have a groundbreaking impact on treating multiple myeloma. This partnership is designed to focus on those eligible projects that relate to myeloma both directly and indirectly, provided that the impact of the proposed research would offer a significant, direct and immediate benefit to the myeloma community.

Some examples of "high risk/high reward" innovative research projects to be considered by the IMF/GPP partnership include:

• Research projects that attempt to scientifically validate significant anecdotal successes of diagnostic or treatment approaches.
• Projects carrying out trials and tests for "proof-of-concept" that can quickly move from basic in-vitro validity to animal or human clinical trials, or which can be used immediately in human clinical trials.
• Research that extends or crosses the boundaries of disciplines, or which fuses elements from different disciplines to produce radically different outcomes.
• Groundbreaking ideas that validate a new understanding of underlying science, create new diagnostic or treatment methods, and/or materially alter disease outcomes.
• Concepts that replace chemotherapy instead of marginally improving current chemotherapy.
• Translating technology from industry to medicine to create immediate and significant breakthroughs.
• High-risk/high reward research which, because of its innovative nature, does not qualify for mainstream medical research funding.

Research submissions will be reviewed and validated by noted myeloma experts from the IMF and business aspects of the project will be managed by the GPP. Researchers may apply for an Inspired Venture Program in Multiple Myeloma by completing a detailed application packet available from both the IMF and the GPP.