18.11.15 - Drug firms and Government invest £65m in dementia fund

The UK Government and major pharmaceutical companies are investing circa £65m in a global fund to develop new treatments for dementia. The UK Government and six drug companies have raised money for The Dementia Discovery Fund.

According to the World Health Organization (WHO) more than 35 million people are living with dementia worldwide. This number is expected to triple by 2050, yet there are currently no medicines available to prevent or cure this disease.

The Government has put £15m in the funding pot, whose origins stem from London’s G8 dementia summit in 2013.

Referring to the summit, Prime Minister David Cameron said: "Britain has led the global battle against dementia. At that meeting, I made clear there had to be a big global push to find new treatments and a cure for dementia.

"Dementia is one of the greatest enemies of humanity and we must all play our part defeating it.”

GSK has made the largest financial contribution, investing £17m and the company plans to bring its neurosciences expertise to the table.

Patrick Vallance, president of GSK's Pharmaceuticals R&D, said: “The scientific community’s most powerful tool in its fight against dementia is collaboration, to stimulate new avenues of drug discovery.

 “This new fund provides the framework for us to do precisely that, bringing together world-leaders in dementia research and combining resources to invest in exciting potential new therapies and start-up companies.”

Dementia affects 850,000 people in the UK according to Alzheimer’s Research, which is supporting the global investment.

Matthew Norton, head of policy at the charity, said: “A fund of this type is a world-first for dementia research. With no treatments currently able to tackle the diseases that cause dementia, the condition is arguably our greatest medical challenge and this initiative is a vital part of the fight back.”

 “Takeda is proud to be a founding partner in this unique initiative to help patients reclaim valuable moments of their life from illness.”

Information source: Angeline Albert, News Editor Care home news

http://www.carehome.co.uk/news/article.cfm/id/1571786/Drug-giants-and-Government-fund-65m-dementia-research

Stuart Grundy Member of Priory Asset Management LLP stated “this is welcomed news in the care sector and encouraging that both UK government and pharmaceutical companies are recognising the need to invest in such funds”

Priory Asset Management LLP is a forward thinking property development company which seeks out opportunities to supply new, environmentally minded and socially acceptable Extra care, Respite/ Dementia homes as well as modern business units.  The style and aesthetics of these facilities will dramatically enhance the localities where they are built.

Any press enquiries should be forwarded to Priory Asset Management LLP on 01983 297075 or enquiries@prioryasset.com

External Link: http://www.carehome.co.uk/news/article.cfm/id/1571786/Drug-giants-and-Government-fund-65m-dementia-research