The AACR and the UBS Oncology Impact Fund Managed by MPM Capital Announce First Funding Gift to Fuel Innovation to Propel Breakthroughs Against Cancer

CHICAGO–(BUSINESS WIRE)–The American Association for Cancer Research (AACR) and the UBS Oncology
Impact Fund (OIF) managed by MPM Capital are extremely proud to announce
the first funding gift to the joint AACR-MPM Transformative Cancer
Research Grants Program* in support of innovative research that will
accelerate breakthroughs against cancer. The first contribution from the
fund to AACR – a total of US$1.2 million – was announced at the AACR
Annual Meeting 2018
, April 14–18. The fund is also due to donate a
second US$1.2 million to UBS’s Optimus Foundation to support emerging
market access to cancer care, or US$2.5 million in total.

“Cancer is the second leading cause of death globally, and much more
research is urgently needed if we are to markedly reduce the incidence,
morbidity, and mortality of this devastating disease. The AACR is deeply
grateful to UBS and MPM Capital for their extraordinary commitment to
this partnership, as this funding will help further ignite high-impact,
transformative research that will catalyze advances in cancer research,
result in the development of novel products and have a significant
impact on future clinical practice,” said Margaret Foti, PhD, MD (hc),
Chief Executive Officer of the AACR.

The OIF is a first-of-its-kind social impact fund dedicated to investing
in oncology therapeutics. The fund was structured and raised by UBS and
is managed by MPM. With US$471 million at its close in April 2016, the
fund invests across a spectrum of companies, from early-stage start-ups
through public companies. These companies are developing transformative
cancer therapeutics that aim to have a significant impact on
improvements in patient outcomes and well-being.

In addition to compelling financial returns, the OIF seeks to make a
positive, measurable social impact. The OIF is donating a portion of its
own profits from the fund as well as future royalties on many of the
drugs developed by fund portfolio companies. In addition to the funds
dedicated to the AACR-MPM Transformative Cancer Research Grants Program,
the OIF is dedicating an equal portion to the UBS Optimus Foundation to
provide access to cancer care in the developing world, where cancer
kills more people than AIDS, malaria, and tuberculosis combined. This
first funding contribution to the joint AACR-MPM grant marks only the
beginning of the material financial contributions and impact that the
OIF hopes to achieve over its long-term lifespan.

Mark Haefele, Chief Investment Officer at UBS Global Wealth Management,
says: “Over the next two decades, growth in cancer cases will outpace
population growth by a factor of three, and the greatest need for
funding is early-stage therapies. We are very pleased that an impact
approach to oncology investment appears capable of doing good for our
clients and patients as well as generating a compelling financial

“MPM’s approach to investment – not just investing in innovation, but
innovating in investment – is directly aligned with the AACR’s strategy
of driving research and innovation to patient care,” said Christiana
Bardon, MD, MBA, Managing Director of the OIF. “This fund establishes a
new investment model that partners private funds with public
philanthropy and has the potential to revolutionize how we finance
groundbreaking research and global access to cancer care and health care
in general.”

Twenty percent of the committed capital in the OIF is dedicated to
public equity investments, and the balance to private companies. These
investments are diversified across rapidly evolving, novel treatments
including antibody technology, cancer vaccines, checkpoint inhibitors,
immune stimulators, targeted therapies, targeted radiotherapeutics,
oncolytic viruses, and cell therapies. The unique structure of the fund
supports its early progress, and as the companies continue to grow and
mature throughout the fund’s lifecycle, the impact contributions to
research and care will reflect this growth.

The AACR and MPM are now establishing an expert Scientific Advisory
Board whose members will be tasked with selecting the grant recipients
of the AACR-MPM Transformative Cancer Research Grants Program that will
benefit the full spectrum of cancer research.

“Our hope is that cancer therapies generated from the fund will lead to
dramatic improvements in the outcomes of patients’ lives. I am excited
about the promising academic research that will be funded by this grants
program and the likely transformative impact these new discoveries will
have on future clinical practice,” said OIF Scientific Advisory Board
member William C. Hahn, MD, PhD, Chief Research Strategy Officer and
Chief, Division of Molecular and Cellular Oncology, Dana-Farber Cancer
Institute and Institute Member, Broad Institute.

About the American Association for Cancer Research
in 1907, the American Association for Cancer Research (AACR) is the
world’s first and largest professional organization dedicated to
advancing cancer research and its mission to prevent and cure cancer.
AACR membership includes more than 37,000 laboratory, translational, and
clinical researchers; population scientists; other health care
professionals; and cancer advocates residing in 120 countries. The AACR
marshals the full spectrum of expertise of the cancer community to
accelerate progress in the prevention, biology, diagnosis, and treatment
of cancer by annually convening more than 30 conferences and educational
workshops, the largest of which is the AACR Annual Meeting with more
than 21,800 attendees. In addition, the AACR publishes eight
prestigious, peer-reviewed scientific journals and a magazine for cancer
survivors, patients, and their caregivers. The AACR funds meritorious
research directly as well as in cooperation with numerous cancer
organizations. As the Scientific Partner of Stand Up To Cancer, the AACR
provides expert peer review, grants administration, and scientific
oversight of team science and individual investigator grants in cancer
research that have the potential for near-term patient benefit. The AACR
actively communicates with legislators and other policymakers about the
value of cancer research and related biomedical science in saving lives
from cancer. For more information about the AACR, visit

About MPM Capital
MPM Capital is a venture firm founding and
investing in early-stage life sciences companies that seek to cure major
diseases by translating scientific innovations into positive clinical
outcomes. MPM’s portfolio of companies aims to revolutionize the face of
medicine across multiple areas including cancer, neuroscience, metabolic
disorders and regenerative medicine. With its experienced and dedicated
investment team, executive partners and medical and scientific advisory
board, MPM is powering novel medical breakthroughs that transform
patients’ lives. MPM is currently investing from two funds – the BV2014
and UBS Oncology Impact Fund. For further information, please visit

About UBS
UBS provides financial advice and solutions to
wealthy, institutional and corporate clients worldwide, as well as
private clients in Switzerland. The operational structure of the Group
is comprised of our Corporate Center and four business divisions: Global
Wealth Management, Personal & Corporate Banking, Asset Management and
the Investment Bank. UBS’s strategy builds on the strengths of all of
its businesses and focuses its efforts on areas in which it excels,
while seeking to capitalize on the compelling growth prospects in the
businesses and regions in which it operates, in order to generate
attractive and sustainable returns for its shareholders. All of its
businesses are capital-efficient and benefit from a strong competitive
position in their targeted markets. UBS is present in all major
financial centers worldwide. It has offices in 54 countries, with about
34% of its employees working in the Americas, 35% in Switzerland, 18% in
the rest of Europe, the Middle East and Africa and 13% in Asia Pacific.
UBS Group AG employs approximately 60,000 people around the world. Its
shares are listed on the SIX Swiss Exchange and the New York Stock
Exchange (NYSE).

*Subject to final legal approvals.

Any investment opportunities arising out of this
collaboration are restricted to specific qualifying investors only and
will not be available for general distribution. The contents of this
document have not been reviewed by any regulatory authority in Hong
Kong. You are advised to exercise caution in relation to the offer. If
you are in any doubt about the contents of this document, you should
obtain independent professional advice. This information pays no regard
to specific investment objectives, financial or tax situations or
particular needs of any recipient. UBS does not provide legal or tax

The UBS Oncology Impact Fund is formed and registered in the Cayman
Islands. The UBS Oncology Impact Fund is not FINMA approved and may be
distributed in or from Switzerland to qualified investors only.
Representative in Switzerland is UBS Fund Management (Switzerland) AG, a
wholly owned subsidiary of UBS AG with registered office at Aeschenplatz
6, CH-4002 Basel. Paying agent is UBS Switzerland AG and all its
branches in Switzerland. The legal documentation pertaining to the UBS
Oncology Impact Fund, as well as the unaudited quarterly reports and
audited annual financial statements can be obtained free of charge from
the Swiss Representative or from the Administrator and the place of
performance and jurisdiction shall be at the registered office of the
Swiss Representative.


For the AACR
Julia Gunther, +1 770-403-7690
MPM Capital/UBS Oncology Impact Fund

Kathy Vincent, +1

Nick Rice, +1 917-748-0391