This 2 part study will assess the safety, tolerability and efficacy of a combination of oral daily RAD001 and intravenous 3-weekly R1507 in patients with advanced solid tumors. In Part 1 of the study, patients will be enrolled sequentially to receive 5mg by mouth (po) RAD001 daily + 16mg/kg intravenous (iv) R1507 every 3 weeks (level 1) and if tolerated, 10mg po RAD001 daily + 16mg/kg iv R1507 every 3 weeks (level 2).In Part 2 of the study, patients with 1) advanced renal cell cancer and 2) advanced pancreatic neuroendocrine tumors will receive the maximum tolerated dose regimen from Part 1 (5mg or 10mg po RAD001 + 16mg/kg iv R1507). The anticipated time on study treatment is until disease progression, and the target sample size is 100-500 individuals.

Inclusion Criteria:

• adult patients, >=18 years of age;
• histologically confirmed recurrent or refractory advanced solid tumor (Part 1);
• advanced metastatic renal cell cancer OR advanced metastatic pancreatic neuroendocrine tumors, with evidence of progressive disease (Part 2);
• measurable disease (Part 2);
• ECOG performance status 0-2.

Exclusion Criteria:

• prior treatment with agents acting via inhibition of IGF-IR pathway;
• prior treatment with agents acting via inhibition of mTOR (Part 2);
• untreated CNS metastases;
• current anti-cancer therapy, or radiotherapy or chemotherapy <=4 weeks prior to enrollment;
• other known malignancy requiring treatment.