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The Multiple Myeloma Research Foundation (MMRF) Names Walter Capone Chief Operating Officer


Norwalk, CT — July 29, 2010

The Multiple Myeloma Research Foundation (MMRF) announced the appointment of Walter Capone to Chief Operating Officer. Capone will serve on the Executive Committee for the MMRF, a leading cancer research organization, and will report directly to Kathy Giusti, MMRF Founder and Chief Executive Officer.

“Walter’s extensive experience in overseeing drug development and commercialization will enable the MMRF to vigorously move forward on our quest to develop next-generation multiple myeloma treatments and ultimately find the cure,” said Giusti, who founded the MMRF in 1998 after being diagnosed with multiple myeloma, a rare and incurable blood cancer.

Capone has 20 years of pharmaceutical and biotechnology leadership experience in the areas of Commercial Development, Operations, Finance, Marketing and Sales both within the United States and internationally. Before joining the MMRF, Capone served as Vice President of Commercial Development and Operations at Progenics Pharmaceuticals working with their global partner Wyeth/Pfizer to commercialize the company’s first approved drug, RELISTOR®, as well as advance the company’s virology and oncology drug candidates and successfully conduct business development transactions.

“I am thrilled at the opportunity to join the MMRF. This foundation has set the standard for what a visionary, audacious and highly talented organization is capable of achieving. The MMRF is redefining what is possible in the field of cancer research,” said Capone.

Capone previously worked at a number of entrepreneurial biotechnology ventures throughout the United States and Europe including Trimeris, Triangle Pharmaceuticals, and Cyanamid Benelux. He started his career at leading global pharmaceutical companies including Lederle, Wyeth and Bristol-Myers Squibb. Capone received his BA in International Relations from Brown University and he has an MBA in Finance and International Business from Columbia University Business School.

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 $140 million since its inception to fund nearly 120 laboratories worldwide, including 40 new compounds and approaches in clinical trials and pre-clinical studies and has facilitated 25 clinical trials through its sister 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 Multiple Myeloma
Multiple myeloma is an incurable blood cancer. The five-year relative survival rate for multiple myeloma is approximately 38 percent, one of the lowest of all cancers. In 2010, more than 20,000 adults in the United States will be diagnosed with multiple myeloma and nearly 11,000 people are predicted to die from the disease.