This study is designed to evaluate the safety and to determine the maximum tolerated dose of carfilzomib + lenalidomide in combination with dexamethasone in newly diagnosed Multiple Myeloma patients who have not received treatment.

During the Phase I portion of this clinical trial, the dose of Revlimid® and carfilzomib will be increased until the best and safest amount (or dose) is identified in combination with standard doses of Revlimid® and dexamethasone. "Investigational" means that the drug combination is still being studied and that research doctors are trying to find out more about it such as the safest dose to use, the side effects it may cause and how effective the Revlimid® and carfilzomib and dexamethasone investigational combination is for treating newly diagnosed multiple myeloma. In this clinical trial we are looking for the highest dose of the combination that can be given safely and see how well it works as a combination in newly diagnosed patients.

The drug, carfilzomib, has not yet been approved by the FDA (U.S. Food and Drug Administration). Revlimid® and Dexamethasone have been approved by the FDA. The drugs have not been approved in this combination for use for your type of cancer or any other type of cancer. Carfilzomib is being researched to treat multiple myeloma. Dexamethasone is commonly used, either alone, or in combination with other drugs, to treat multiple myeloma. Revlimid® is currently approved by the US FDA in combination with dexamethasone for the treatment of patients with multiple myeloma who have received at least 1 prior therapy.

After the Phase I clinical trial defines the safest doses of Revlimid® and carfilzomib and dexamethasone that can be taken together, the research study will move on to its second portion, a Phase II clinical trial. The Phase II portion of the clinical trial will test the clinical effectiveness of the best dose combination of the three drugs.

Inclusion Criteria

1. Newly diagnosed, histologically confirmed, previously untreated Stage I, II, or III multiple myeloma requiring systemic chemotherapy

2. Diagnosis of symptomatic multiple myeloma per IMWG uniform criteria within the past 90 days

3. Measurable disease, per IMWG (International Myeloma Working Group) criteria (>= one of the following) within the past 4 weeks:

   • Monoclonal protein >= 0.5 g/dL by serum protein electrophoresis
   • Monoclonal light chain >= 200 mg by 24-hour urine protein electrophoresis
   • If serum protein electrophoresis is felt to be unreliable for routine M-protein measurement, then quantitative immunoglobulin levels are acceptable

4. Life expectancy > 3 months

5. Eastern Cooperative Oncology Group (ECOG) performance status 0-2

6. Adequate hepatic function, with bilirubin < 1.5 x the ULN, and AST (Aspartate Aminotransferase) and ALT (Alanine Transaminase) < 2.5 x ULN

7. Absolute neutrophil count (ANC) >=1.0 x 109/L, hemoglobin >= 8 g/dL, platelet count >= 75 x 109/L

8. Calculated creatinine clearance (by Cockroft-Gault) >= 60 ml/min

9. Written informed consent in accordance with federal, local, and institutional guidelines.

10. Subjects must agree to adhere to all study requirements, including birth control measures and pregnancy testing, visit schedule, outpatient treatment, required concomitant medications, and laboratory monitoring.

11. Must be able to take either 81 mg or 325 mg aspirin daily as prophylactic anticoagulation.

Exclusion Criteria

1. Non-secretory or hyposecretory multiple myeloma, defined as <0.5 g/dL M-protein in serum, <200 mg/24 hr urine M-protein, or disease only measured by serum free light chain

2. POEMS (Polyneuropathy, Organomegaly, Endocrinopathy, Monoclonal Gammopathy, and Skin Changes) syndrome

3. Plasma cell leukemia

4. Waldenström's macroglobulinemia or IgM myeloma

5. Radiotherapy to multiple sites or immunotherapy within 2 weeks before start of protocol treatment (localized radiotherapy to a single site at least 1 week before start is permissible)

6. Patient must not have been previously treated with any prior systemic therapy for the treatment of multiple myeloma

   • Prior treatment of hypercalcemia or spinal cord compression or aggressively progressing myeloma with corticosteroids does not disqualify the patient (the dose should not exceed the equivalent of 160 mg of dexamethasone in a 2 week period)
   • Bisphosphonates are permitted

7. Participation in an investigational therapeutic study within 3 weeks or within 5 drug halflives (t1/2) prior to first dose, whichever time is greater

8. Pregnant or lactating females

9. History of allergy to mannitol

10. Major surgery within 3 weeks prior to first dose

11. Myocardial infarction within 3 months prior to enrollment, NYHA (New York Heart Association) Class III or IV heart failure, uncontrolled angina, severe uncontrolled ventricular arrhythmias, or electrocardiographic evidence of acute ischemia or active conduction system abnormalities

12. Uncontrolled hypertension or diabetes

13. Acute active infection requiring systemic antibiotics, antivirals, or antifungals within two weeks prior to first dose

14. Known or suspected HIV infection, known HIV seropositivity

15. Active hepatitis infection

16. Non-hematologic malignancy within the past 3 years except a) adequately treated basal cell, squamous cell skin cancer, thyroid cancer, carcinoma in situ of the cervix, or prostate cancer < Gleason Grade 6 with stable prostate specific antigen levels or cancer considered cured by surgical resection alone

17. Any clinically significant medical disease or condition that, in the Investigator's opinion, may interfere with protocol adherence or a subject's ability to give informed consent

18. Significant neuropathy (Grade >2) at the time of the first dose and/or within 14 days before enrollment

19. Contraindication to any of the required concomitant drugs

20. Subjects in whom the required program of PO and IV fluid hydration is contraindicated

21. Subjects with known or suspected amyloidosis of any organ

22. Subjects with pleural effusions requiring thoracentesis or ascites requiring paracentesis