Multiple Myeloma Research Foundation (MMRF) and Astellas Pharma Global Development Enter into Joint Collaboration to Accelerate Drug Development for Myeloma Patients

Study to evaluate efficacy and safety of the potent dual IGF1R/IR inhibitor, OSI-906, as single agent and in combination with bortezomib

Norwalk, Conn. and Deerfield, Ill. — May 5, 2011

The Multiple Myeloma Research Foundation (MMRF) and Astellas Pharma Global Development, Inc. (APGD) today announced that they have entered into a joint collaboration for the clinical development of OSI-906 in patients with relapsed multiple myeloma.

In support of this partnership, the MMRF and APGD have agreed to fund a Phase 1 trial evaluating OSI-906 as a single agent and in combination with the proteasome inhibitor bortezomib for the treatment of relapsed multiple myeloma. The trial will be conducted through the Multiple Myeloma Research Consortium (MMRC), which accelerates the development of novel and combination treatments for patients with multiple myeloma by promoting and facilitating collaborative research between industry and academia. Partial funding for this trial is made possible by the donor-supported MMRF Clinical Fund, which enables the MMRF to invest in the development of industry-owned compounds whose development in multiple myeloma is delayed due to matters of prioritization.

OSI-906 is a potent, selective tyrosine kinase inhibitor of both IGF-1R and IR, viewed as important therapeutic targets due to their involvement in the growth and proliferation of a variety of human cancers, including adrenocortical carcinoma, ovarian and non-small cell lung (NSCLC) cancers.

“As a dual inhibitor of insulin-like growth factor 1 receptor and insulin receptor kinases, OSI-906 is uniquely positioned to be effective against myeloma,” said Suzanne Trudel, MD, Assistant Professor of Medicine, Division of Hematology at the University of Toronto, and Clinician/Research Scientist in the Department of Medical Oncology and Hematology at Princess Margaret Hospital/University Health Network, who is the principal investigator of the Phase 1 trial. “Preclinical models of myeloma strongly support a role for OSI-906 as a promising therapeutic approach to the treatment of multiple myeloma.”

“We are excited to partner with APGD on OSI-906, which has shown promise in a number of other cancers,” said Kathy Giusti, Founder and CEO of the MMRF and MMRC, and a multiple myeloma patient. “As we enter into more of these collaborations with our biopharmaceutical partners, we are beginning to see the potential of the MMRF Clinical Fund project come to fruition as compounds that may have not been considered before are now being studied in myeloma. We believe that this path of shared risk will result in getting more and better treatments to patients faster.”

“We hope that this partnership with the Multiple Myeloma Research Foundation on the development of OSI-906 will prove to be beneficial to relapsed multiple myeloma patients,” said William Fitzsimmons, Pharm.D., Senior Vice President US development and global group therapeutic area head of Astellas Pharma Global Development, Inc. “We are committed to continuing to build our oncology pipeline to meet the unmet medical needs of patients around the world.”

About Multiple Myeloma
Multiple myeloma is a type of blood cancer that originates in plasma cells. It is the most common type of white blood cell cancer and the second most common blood cancer. In 2010, more than 20,000 adults in the United States were estimated to be diagnosed with multiple myeloma and nearly 11,000 people were predicted to die from the disease.

About OSI-906
OSI-906 is a potential first-in-class selective small molecule, dual kinase inhibitor of both insulin-like growth factor-1 receptor (IGF-1R) and insulin receptor (IR). OSI-906 is currently in a Phase 3 clinical trial in adrenocortical carcinoma (ACC) and in Phase 2 clinical trials in ovarian cancer and hepatocellular carcinoma, as well as in clinical trials evaluating OSI-906 in combination with Tarceva® (erlotinib) in non-small cell lung cancer (NSCLC).

About the Multiple Myeloma Research Consortium (MMRC) The Multiple Myeloma Research Consortium (MMRC) is a 509(a)3 non-profit organization that integrates leading academic institutions to accelerate drug development in multiple myeloma. It is led from MMRC offices in Norwalk, Conn., and comprises 16 member institutions: Baylor Charles A. Sammons Cancer Center at Dallas, City of Hope, Dana-Farber Cancer Institute, Emory University's Winship Cancer Institute, the John Theurer Cancer Center at Hackensack University Medical Center, H. Lee Moffitt Cancer Center & Research Institute, Mayo Clinic, Ohio State University, Mount Sinai School of Medicine, Sarah Cannon Research Institute, University Health Network (Princess Margaret Hospital), University of California-San Francisco, University of Chicago, University of Michigan, Virginia Cancer Specialists, and Washington University.

The MMRC was founded in 2004 by Kathy Giusti, a myeloma patient, and with the help of the scientific community. The MMRC is an affiliate organization of the Multiple Myeloma Research Foundation (MMRF), the world's leading funder of multiple myeloma research. The MMRC is widely recognized as an optimal research model to rapidly address critical challenges in drug development and to explore opportunities in today's most promising research areas–genomics, compound validation, and clinical trials. The MMRC is the only consortium to join academic institutions through membership agreements, customized IT systems, and an integrated tissue bank. For more information, please visit: www.themmrc.org.

About the Multiple Myeloma Research Foundation (MMRF)
The Multiple Myeloma Research Foundation (MMRF) was established in 1998 as a 501(c)3 non-profit organization by twin sisters Karen Andrews and Kathy Giusti, soon after Kathy's diagnosis with multiple myeloma. The mission of the MMRF is to relentlessly pursue innovative means that accelerate the development of next-generation multiple myeloma treatments to extend the lives of patients and lead to a cure. As the world's number-one private funder of multiple myeloma research, the MMRF has raised over $160 million since its inception to fund more than 130 laboratories worldwide, including 70 new compounds and approaches in clinical trials and pre-clinical studies and has facilitated 30 clinical trials through its affiliate organization, the Multiple Myeloma Research Consortium (MMRC). As exceptional stewards of its donor’s investments, the MMRF consistently surpasses its peers in fiscal responsibility. For more information about the MMRF, please visit: www.themmrf.org.

About Astellas Pharma Global Development
Astellas Pharma Global Development, Inc., located in Deerfield, Illinois, is a member of the Astellas group of companies. Astellas is a pharmaceutical company dedicated to improving the health of people around the world through the provision of innovative and reliable pharmaceutical products. The organization is committed to becoming a global category leader in focused areas by combining outstanding R&D and marketing capabilities. For more information about Astellas, please visit the website at www.astellas.com/en/.

Media Contacts:

Multiple Myeloma Research Foundation (MMRF)
Anne Quinn Young

Astellas Pharma Global Development
Jenny Keeney

Tarceva® is a trademark of OSI Pharmaceuticals, LLC.