GSK, J&J Invest in Dementia Discovery FundBy
GlaxoSmithKline (GSK) announced it will be a key partner, with an investment of $25 million, in a new global fund for dementia research. The Dementia Discovery Fund, which is being established by the UK government with initial commitments totaling $100 million brings together leading pharmaceutical companies, the UK government, and Alzheimer's Research UK to address the rising threat posed by dementia by supporting research into future treatments. Johnson & Johnson, through its Janssen Pharmaceutical Companies, also will invest $10 million in the new UK government-led global dementia discovery fund. The investment will be made through its affiliate venture arm, Johnson & Johnson Innovation.
The fund aims to identify and nurture promising new avenues of research from around the world in the field of dementia and supports GSK's commitment to explore collaborative approaches in challenging areas of research. It is hoped that by providing critical financial support and expert advice during the early stages of research, the development of innovative new treatments for this disease could be accelerated.
The Dementia Discovery Fund will be structured as a typical venture capital fund, but will be the first to focus solely on dementia research. The fund will review the global research community for the most promising early-stage research for investment. A scientific advisory board of representatives from each of the partner organizations will provide expert scientific input during the selection of research programs as well as providing ongoing advice during pre-clinical and early clinical development. Partners will then be sought for the progression of promising assets through the clinical development pipeline, the intention being that proceeds from licensing or sale of such programs will be returned to the fund and its investors. The fund will appoint a professional investment manager in due course, which will be responsible for its financial governance and investment decisions.
Source: GlaxoSmithKline and Johnson & Johnson