The Multiple Myeloma Research Foundation (MMRF) and Multiple Myeloma Research Consortium (MMRC) Name Susan L. Kelley, M.D., Chief Medical Officer

NORWALK, Conn. — July 7, 2008
MMRF and MMRC Announce Formation of Executive Committee Focused on Drug Development

The Multiple Myeloma Research Foundation (MMRF) and the Multiple Myeloma Research Consortium (MMRC) today announced the appointment of Susan L. Kelley, M.D., to the new position of Chief Medical Officer. In this role, Dr. Kelley will provide senior medical guidance for the clinical development activities supported by the MMRC. In addition, Louise M. Perkins, Ph.D., was promoted to Chief Scientific Officer and will be responsible for the strategic development and execution of the organizations' research agenda. Both Dr. Kelley and Dr. Perkins will serve on the MMRF and MMRC Executive Committee and will report directly to Kathy Giusti, MMRF and MMRC Founder and Chief Executive Officer.

"Dr. Kelley and Dr. Perkins have extensive experience at prestigious pharmaceutical companies and are incredible assets to the MMRF and MMRC," said Giusti. "Their expertise in drug discovery and development, combined with Executive Committee members' expertise in drug commercialization and strategic planning, will enable the MMRF and MMRC to serve as an end-to-end solution for the development of new myeloma therapies."

The MMRF and MMRC Executive Committee is responsible for the development and implementation of the organizations strategic plans. The members of the Executive Committee include: Giusti, a multiple myeloma patient and graduate of Harvard Business School, with more than 10 years of experience in pharmaceutical marketing and product commercialization; Scott Santarella, Executive Director and Chief Operating Officer of the MMRF and MMRC and 8-year veteran of the sister organizations, whose 20-year career within the non-profit industry includes experience in overseeing daily operations to strategic business planning and fundraising; Dr. Kelley, who has more than 20 years of experience in oncology clinical research and drug development within the pharmaceutical industry; and Dr. Perkins who joined the MMRF in 2007 and has more than 16 years of oncology drug discovery research within the pharmaceutical industry.

Dr. Kelley most recently served as Vice President of Global Clinical Development for Oncology at Bayer Healthcare Pharmaceuticals. While at Bayer, Dr. Kelley oversaw the successful advancement of Nexavar (sorafenib) through the FDA approval process. Prior to her position at Bayer, Dr. Kelley held several leadership positions at Bristol-Myers Squibb, where she participated in the development and registration of several new products, including Vumon (teniposide), Taxol (paclitaxel), and Videx (didanosine).

Prior to joining the MMRF, Dr. Perkins was Director of Cancer Research at Bayer Pharmaceuticals, where she contributed to advancing novel targeted therapies, including Nexavar (sorafenib), into clinical trials. While at Bayer, she also served as Director of Research Licensing and was responsible for oncology licensing activities in support of cancer research programs. Before joining Bayer, Dr. Perkins led a cancer research group at the Schering–Plough Research Institute.

About Multiple Myeloma

Multiple myeloma is an incurable cancer of the plasma cell. The five-year relative survival rate for multiple myeloma is approximately 33%, one of the lowest of all cancers. In 2007, an estimated 19,900 adults (10,960 men and 8,940 women) in the United States were diagnosed with multiple myeloma and an estimated 10,790 people died from the disease.

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 urgently and aggressively fund research that will lead to the development of new treatments for multiple myeloma. As the world's number-one funder of multiple myeloma research, the MMRF has raised over $100 million since its inception to fund 70 laboratories worldwide. The payback on its investment has been significant, including the approval of four new treatments in four years. Today, the MMRF is supporting 30 new compounds and approaches now in clinical trials and pre-clinical studies and has facilitated 14 clinical trials through its sister organization, the Multiple Myeloma Research Consortium (MMRC). For more information about the MMRF, please visit www.themmrf.org.