Published on : Mar 18, 2015
A group of top drug makers has recently shown their support for a U.K. based venture capital fund that is dedicated to research for treatment methods for dementia.
The list of companies in support includes Pfizer, GSK, Johnson & Johnson, Biogen, and Lilly. They all have committed to invest in the fund, in addition to the U.K. based charity Alzheimer’s Research.
The venture fund, called Dementia Discovery Fund, was installed by the U.K. government with aid from JP Morgan. It is unique as it focuses only on the one mental condition.
The fund has raised nearly £68 million, which also includes the £15 million that was previously committed by the Treasury in October 2014. The fund’s developments were announced by Jeremy Hunt, the Health Secretary, at a meeting on Tuesday in Geneva.
The fund has been created to locate and support all early research from across the globe that shows promise, with a focus on creating groundbreaking new treatments for Alzheimer’s and other forms of dementia.
Each individual organization will provide experts with the help in selecting a project to fund. The companies will additionally have the option to bid for the rights to take on any particular research, with any money that will be raised to be reinvested in the fund.
Hunt said that the fund is meant to be a unique collaboration that brings together the combines expertise of government, charity partners, industry, and financial. It marks the global consensus that research needs a larger priority and that new sources of finance are required to effect the best science into the best treatment.