Specialty investing to find a cure for multiple myeloma

grIP Senior Advisor for Life Sciences and Biotech Stephanie Oestreich is the Managing Director of the Myeloma Investment Fund (MIF) MIF, a specialty investment fund started by the Multiple Myeloma Research Foundation (MMRF), funds companies developing new therapies in multiple myeloma. Recently, Stephanie spoked with Sabine Hutchison, Seuss+ CEO on their Cut The Chat – Life Science Insider Podcast and below are some valuable insights.  

What is the main criteria MIF applies when determining which companies to invest in?

MIF invests in seed or series A stage. MIF invests only in innovative therapies  and not in incremental improvements like reformulations or repurposing. True innovation is the focus. 

What is the MIF funding model?

MIF is a specialized investor, specifically focusing on the complex disease of multiple myeloma. MIF is  a well-informed specialty investor, not only providing information to myeloma  patients but  also running and providing clinical trials. MMRF, MIF’s parent organization, has built very strong relationships with clinical centers in the United States and abroad as well as with principal investigators. Often the first investment capital in a myeloma project, MIF acts as a launchpad for ensuing larger investment rounds by providing almost a “stamp of approval” with its contacts and deep understanding of  true innovation in this complex disease area. 

MIF measure of success and exit options

When asked about how MIF measures success of their portfolio companies, Stephanie mentioned the importance of understanding the correct criteria: the ultimate goal is to provide a cure for myeloma patients. Currently, two of their portfolio companies have active myeloma projects in clinical trials, which  is a very important milestone for the organization. The exit options depend a bit more on the economic environment. Stephanie mentioned she’s cautiously optimistic that the IPO window might open again this year. She is also cautiously optimistic about the potential for acquisitions or collaborations with pharma companies for Myeloma-focused startups. In the end, however, the most important and solid indicator to success is to find a successful treatment for myeloma patients. Proceeds from the exits are invested into other companies focused on Myeloma treatments with the hope of eventually finding a cure for multiple myeloma. 

Stephanie Oestreich, PhD, MPA

Managing Director

Myeloma Investment Fund (MIF)