The Multiple Myeloma Research Foundation (MMRF) has launched the Myeloma Investment Fund as an independent vehicle focused on advancing myeloma research and therapies.According to the Norwalk-headquartered nonprofit, the $50 million fund will be a self-sustaining entity that will invest seed, early-stage or series A funding for emerging biotech companies and/or asset management companies, with the goal of reinvesting its returns to support further myeloma research.
Peter Kosa, a former senior director of business development at bluebird bio, the gene therapy development organization, has been hired as the fund’s managing director.
“We created the Myeloma Investment Fund to leverage the MMRF’s formidable assets and advance new therapies for our patients while generating a return to reinvest in even more research,” said MMRF President and CEO Paul Giusti. “The fund will partner with and invest in world-class biotech companies so myeloma patients can benefit from the tremendous progress that is happening in cancer research. It is because of the generosity of our donors, our treasure trove of data, world class clinical network, deep relationships, and extensive patient engagement that we are able to bring this fund to fruition.”