Wednesday 18 Mar 2015 @ 10:05
Department of Health
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Health secretary announces $100m Dementia Discovery Fund

Major pharmaceutical companies, Alzheimer’s Research UK and government all commit in principle to investing in the fund.

Health secretary Jeremy Hunt announced the $100m Dementia Discovery Fund at the World Health Organization’s First Ministerial Conference on Global Action Against Dementia. yesterday (17 March).

Major pharmaceutical companies Biogen, GlaxoSmithKline, Johnson & Johnson, Lilly and Pfizer have all committed in principle to investing in the project, alongside Alzheimer’s Research UK and the UK government.

These commitments mark a significant first step towards launching the ground-breaking fund. The companies involved will be working together in the coming months to develop the fund further.

The government has been working with J.P. Morgan to structure the Dementia Discovery Fund as an innovative method for financing dementia research. The ultimate aim is to develop pioneering new drugs to treat the condition.

The money committed by investors yesterday includes the £15m that the UK government announced for the fund in autumn 2014. An opportunity for additional interested investors to participate in the fund is planned for a later stage.

 

Channel website: https://www.gov.uk/government/organisations/department-of-health-and-social-care

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