On March 2, the Multiple Myeloma Research Foundation (MMRF) announced that it has awarded its 2008 MMRF Biotech Investment Awards, each worth $500,000 in grant funding, to Aileron Therapeutics and Astex Therapeutics. If within the next year the companies reach clearly defined milestones in their research, the MMRF will award each company an additional $500,000 in 2010.

The MMRF Biotech Investment Awards offer research grants to fund early-stage drug-development of new compounds or approaches that show potential in multiple myeloma treatment. Because funding for early-stage drug development for rare diseases like multiple myeloma is limited, the MMRF Biotech Investment Awards help fund multiple myeloma drug research and development that might not otherwise be possible.

The MMRF Biotech Investment Award for Aileron Therapeutics will support early development of their Stapled Peptide ^[1], which restores programmed cell death in multiple myeloma cells. The compound triggers a critical binding site on the death protein BAX, which activates the pathway for cell death.

The MMRF Biotech Investment Award for Astex Therapeutics will help develop their proprietary cyclin-dependent kinase inhibitor (AT7519) ^[2], which is a type of drug that blocks the uncontrolled proliferation of multiple myeloma cells. AT7519 has demonstrated significant anti-tumor activity in pre-clinical multiple myeloma research.

Past recipients of the MMRF Biotech Investment Award have already produced impressive results. The company Semafore utilized its funding to support early development of its targeted PI3 kinase inhibitor, SF1126, in multiple myeloma. The Multiple Myeloma Research Consortium is currently studying the compound in a clinical trial.

For the full article on the 2008 MMRF Biotech Investment Awards, please see the Business Wire ^[3] press release.