Myeloma Investment Fund

What Myeloma Investment Fund does

The Myeloma Investment Fund (MIF) is a venture philanthropy fund founded in 2019 as a wholly owned nonprofit subsidiary of the Multiple Myeloma Research Foundation (MMRF), a 501(c)(3) organization (Tax ID 06-1504413). MIF identifies and invests in early-stage, venture-backed biotech companies developing novel therapies for multiple myeloma, with a portfolio spanning CAR T-cell therapies (Dynamic Cell Therapies, Umoja Biopharma), NK cell therapies (CytoImmune Therapeutics, Indapta Therapeutics), antibody-drug conjugates (Fortis Therapeutics), bispecific antibodies (TRIO Pharmaceuticals, Reverb Therapeutics), RNA splicing therapeutics (Envisagenics), masked immunocytokines (Nammi Therapeutics), nuclear transport inhibitors (Telo Therapeutics), TAC-T cell platforms (Triumvira Immunologics), dual-targeting fusion proteins (KAHR), allogeneic cell therapy (Luminary Therapeutics), in vivo genetic medicines (Stylus Medicine), immunomodulatory therapeutics (Abcuro), and nectin-pathway immunotherapies (Nectin Therapeutics). Since inception MIF has committed $23 million across 21 companies and advanced 6 treatments to clinical trials, with 17 active portfolio companies as of 2024 and exits including Sanofi acquisition of Tidal Therapeutics (April 2021), NexImmune IPO (February 2021), and Cullinan MICA exit (April 2024). Operating as an evergreen fund, MIF reinvests 100% of financial returns into further myeloma research and provides portfolio companies with access to MMRF's molecular and longitudinal clinical data, scientific and clinical expertise, and biopharma and academic networks. MIF is governed by a board including MMRF President and CEO Michael Andreini and Chairman Hugh Martin, with Stephanie Oestreich, Ph.D., MPA, serving as Managing Director since October 2023.

Name

Myeloma Investment Fund

Legal name

Myeloma Investment Fund®

Website

https://myelomainvestmentfund.org

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

The Myeloma Investment Fund (MIF) is a nonprofit venture philanthropy fund founded in 2019 that invests in early-stage biotech companies developing novel therapies for multiple myeloma, with 100% of returns reinvested into further research.

Ownership category

akta.pro rank

Product category

Venture Philanthropy / Biotech Investment Fund

NAICS

Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Impact Investing & Social Finance (Funds, CDFIs, Microfinance) (BPAGALAA)

Keywords

• Venture philanthropy fund
• Biotech investment
• Multiple myeloma research
• Oncology therapeutics funding
• Life sciences capital

Headquarters

HQ city

Brookline

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Venture Philanthropy Investment Returns: As a philanthropic venture fund, the MIF generates returns through investments in biotech companies. These returns are entirely reinvested into the fund to continue supporting the development of future myeloma therapies until a cure is found for every patient.
2. Philanthropic Funding: The MIF is funded exclusively through charitable donations and philanthropy. The evergreen fund is supported entirely by philanthropy with all profits reinvested into research.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

The Myeloma Investment Fund (MIF) is a nonprofit venture philanthropy fund that provides equity capital and strategic guidance to early-stage biotech companies developing novel therapies and technologies for multiple myeloma. Since 2019, MIF has committed $23 million to 21 portfolio companies and advanced 6 treatments to clinical trials, operating as an evergreen fund supported entirely by philanthropy with 100% of financial returns reinvested into further myeloma research.

Product overview

The Myeloma Investment Fund (MIF) is a venture philanthropy fund that serves as the investment arm of the Multiple Myeloma Research Foundation (MMRF). Rather than a traditional product company, MIF provides funding and strategic support to a portfolio of 17+ active biotech companies developing novel therapies and technologies for multiple myeloma treatment. The fund focuses on companies with compelling science and potential for transformative patient benefit. Key portfolio companies include Abcuro (immunomodulatory therapeutics), CytoImmune Therapeutics (CAR-NK cell therapies), Envisagenics (AI-driven RNA splicing platform), Opna Bio (EP300/CBP inhibitors), Reverb Therapeutics (cytokine therapy via Amplifier™ platform), TRIO Pharmaceuticals (TRAILBody™ bispecific antibodies), and Umoja Biopharma (in vivo CAR-T therapies). Since 2019, MIF has committed $23M across 21 companies and advanced 6 treatments to clinical trials.

Differentiator

Problem solved

Functional benefit

Products and services

• Myeloma Investment Fund Venture Philanthropy Services Mission-driven venture philanthropy fund providing financial capital and strategic/scientific support to early-stage biotech companies developing innovative therapies for multiple myeloma. All financial returns are reinvested into the fund on an evergreen basis.

Quantifiable outcome

• 21 companies invested in since 2019
• +4 more outcomes

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered clinical collaboration and parent organization.

• Sanoficlinical collaborationStrategic or Co-development Partner · 6 December 2024Indapta Therapeutics announced clinical study collaboration with Sanofi to explore combination of its allogeneic g-NK cell therapy IDP-023 with Sanofi's CD38-targeting monoclonal antibody Sarclisa for multiple myeloma.
• Multiple Myeloma Research Foundation (MMRF)parent organizationStrategic or Co-development PartnerThe Myeloma Investment Fund is a wholly owned subsidiary of the Multiple Myeloma Research Foundation. MMRF is the largest nonprofit in the world solely focused on accelerating a cure for multiple myeloma patients, driving development and delivery of next-generation therapies.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Cystic Fibrosis Foundation: The CFF pioneered the venture philanthropy model through its drug discovery arm, funding biotech companies developing CF therapies and reinvesting returns into research. Like MIF, it operates as a nonprofit disease-focused fund, providing capital plus strategic and clinical resources to portfolio companies, and has helped bring multiple FDA-approved therapies to market.
• The Leukemia & Lymphoma Society: LLS operates a Therapy Acceleration Program (LLS TAP) that functions as venture philanthropy in blood cancers, directly comparable to MIF's multiple myeloma focus. Both target hematologic malignancies, fund early-stage biotechs, and reinvest returns to advance cures in overlapping patient populations.
• Alzheimer's Drug Discovery Foundation: ADDF is a venture philanthropy fund that finances drug discovery and translational research for Alzheimer's disease, deploying philanthropic capital into biotech companies with milestone-driven investments. The model — nonprofit funding biotechs, reinvesting returns, focusing on a single disease area — closely mirrors MIF's structure.
• Juvenile Diabetes Research Foundation: JDRF operates a venture philanthropy arm (formerly JDRF T1D Fund) that invests in early-stage companies developing type 1 diabetes therapies, providing both capital and strategic support. Comparable to MIF in being a disease-specific philanthropic investor with a focus on translational biotechs and reinvested returns.
• Michael J. Fox Foundation for Parkinson's Research: MJFF runs a venture philanthropy program funding biotech companies developing Parkinson's disease therapies, including direct equity investments in portfolio companies. Like MIF, MJFF combines patient foundation leadership with biotech investment expertise to bridge philanthropy and drug development.
• The V Foundation for Cancer Research: The V Foundation funds cancer research through grants and translational investments, with growing venture philanthropy elements targeting early-stage oncology companies. While more grant-heavy than MIF, it shares the disease-focused nonprofit funding model in oncology with reinvested returns.

Emerging players

• Damon Runyon Cancer Research Foundation: Damon Runyon funds early-career cancer researchers and translational science; while primarily a grant-making body rather than a venture investor, it shares MIF's nonprofit cancer-research mission and is exploring expanded translational funding mechanisms. Less direct overlap than CFF or ADDF.
• Gateway for Cancer Research: Gateway funds early-phase clinical trials across cancer types and provides patient-centric translational research support. Like MIF, it focuses on moving therapies into clinical development, though it primarily funds trials directly rather than investing in companies.
• Parker Institute for Cancer Immunotherapy: Parker Institute is a nonprofit focused on accelerating cancer immunotherapy research through collaborations with academic institutions and biotech companies. While structured differently than MIF, both operate at the intersection of philanthropy, oncology drug development, and biotech partnership, with overlapping modalities (CAR-T, NK cells, bispecifics).

Broad incumbents

• American Cancer Society: ACS is the largest nonprofit funder of cancer research, with a much broader mandate (all cancers, prevention, patient support) than MIF. While its venture philanthropy efforts are less developed than MIF's, it represents the broader nonprofit oncology-funding ecosystem in which MIF operates.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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M&A

Investments12 records

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Frequently asked questions about Myeloma Investment Fund