Inclusion Criteria:

1. Patients with relapsed/refractory multiple myeloma to at least one line of prior
therapy

2. Male or female patients aged ≥ 18 years old

3. Ability to provide written informed consent obtained prior to participation in the
study and any related procedures being performed

4. Patients are allowed to receive growth factors (erythropoietin hormones, GCSF and
GMCSF)

5. Patients must meet the following laboratory criteria:

- ANC ≥ 1.5 x 109/L

- Hemoglobin ≥ 9 g/dl

- Platelets ≥ 100x 109/L

- Calculated CrCl > 50 mL/min (MDRD Formula)

- AST and ALT ≤ 2.5 x ULN

- Serum bilirubin < 2.0 x ULN

- Albumin > 3.0 g/dl

- Serum potassium ≥ LLN for the institution

- Total serum calcium [corrected for serum albumin] or ionized calcium ≥LLN, for
the institution

- Serum magnesium ≥ LLN for the institution

- Serum phosphorus ≥ LLN for the institution

- TSH ≤ LLN and free T4 within normal limits. Patients are permitted to receive
thyroid hormone supplements to treat underlying hypothyroidism

6. Baseline MUGA or ECHO must demonstrate LVEF ≥ the lower limit of the institutional
normal

7. History of histologically documented MM with relapsed or progressive disease after at
least one line of prior therapy

8. Patient has measurable disease in which to capture response, defined as one or more
of the following:

1. Serum M-protein level ≥ 0.5 gm/dl (10.0 g/L) measured by serum protein
electrophoresis or immunoglobulin electrophoresis; or

2. Urinary M-protein excretion ≥ 200 mg/24 hrs; or

3. Bone marrow plasmacytosis of ≥ 30% by bone marrow aspirate and/or biopsy; or

4. Serum Free Light Chains (By the Freelite test) > 2X ULN, in the absence of renal
failure

9. Performance status of ≤ 2 as per ECOG scale, unless PS of 3-4 based solely on bone
pain

10. Patients must have signed an IRB approved written informed consent form and
demonstrate willingness to meet follow-up schedule and study procedure obligations

Exclusion Criteria:

1. Prior HDAC, DAC, HSP90 inhibitors or valproic acid for the treatment of cancer

2. Patients who have received Velcade within 2 months of enrollment

3. Patients who will need valproic acid for any medical condition during the study or
within 5 days prior to first panobinostat IV treatment

4. Peripheral neuropathy > grade 2.

5. Impaired cardiac function or clinically significant cardiac diseases, including any
one of the following:

- Patients with congenital long QT syndrome

- History or presence of sustained ventricular tachyarrhythmia. (Patients with a
history of atrial arrhythmia are eligible but should be discussed with Novartis
prior to enrollment)

- Any history of ventricular fibrillation or torsade de pointes

- Bradycardia defined as HR< 50 bpm. Patients with pacemakers are eligible if HR ≥
50 bpm.

- Screening ECG with a QTc > 450 msec

- Right bundle branch block + left anterior hemiblock (bifascicular block)

- Patients with myocardial infarction or unstable angina ≤ 6 months prior to
starting study drug

- Other clinically significant heart disease (e.g., CHF NY Heart Association class
III or IV , uncontrolled hypertension, history of labile hypertension, or
history of poor compliance with an antihypertensive regimen)

6. Other concurrent severe and/or uncontrolled medical conditions (e.g., uncontrolled
diabetes or active or uncontrolled infection) including abnormal laboratory values,
that could cause unacceptable safety risks or compromise compliance with the protocol

7. Patients using medications that have a relative risk of prolonging the QT interval or
inducing torsade de pointes if treatment cannot be discontinued or switched to a
different medication prior to starting study drug

8. Concomitant use of CYP3A4 inhibitors (See Appendix 2)

9. Patients who have received targeted agents within 2 weeks or within 5 half-lives of
the agent and active metabolites (which ever is longer) and who have not recovered
from side effects of those therapies.

10. Patients who have received either immunotherapy (e.g. vaccines) within < 8 weeks;
chemotherapy within < 4 weeks; or radiation therapy to > 30% of marrow-bearing bone
within < 2 weeks prior to starting study treatment; or who have not yet recovered
from side effects of such therapies.

11. Patients with an active bleeding tendency or is receiving any treatment with
therapeutic doses of sodium warfarin (Coumadin®) or coumadin derivatives. Low doses
of Coumadin® (e.g. ≤ 2.0 mg/day) to maintain line patency (if applicable) is allowed.

12. Patients who have undergone major surgery ≤ 4 weeks prior to starting study drug or
who have not recovered from side effects of such therapy

13. Women who are pregnant or breast feeding or women of childbearing potential (WOCBP)
not using an effective method of birth control. WOCBP are defined as sexually mature
women who have not undergone a hysterectomy or who have not been naturally
postmenopausal for at least 12 consecutive months (i.e., who has had menses any time
in the preceding 12 consecutive months). Women of childbearing potential must have a
negative serum pregnancy test within 24hrs of receiving the first dose of study
medication.

14. Male patients whose sexual partners are WOCBP not using effective birth control

15. Patients with a prior malignancy with in the last 5 years (except for basal or
squamous cell carcinoma, or in situ cancer of the cervix)

16. Patients with known positivity for human immunodeficiency virus (HIV) ) or hepatitis
C; baseline testing for HIV and hepatitis C is not required

17. Patients with any significant history of non-compliance to medical regimens or
unwilling or unable to comply with the instructions given to him/her by the study
staff.

18. No concomitant use of bisphosphonates is allowed