Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

U.K. Alzheimer’s Charity to Fund Drug Discovery Institute

Don't Miss Out —
Follow us on:
Dementia Care
Dementia care costs about $600 billion a year worldwide and may rise to $1.1 trillion by 2030, according to Alzheimer’s Disease International. Photographer: Bartek Sadowski/Bloomberg

Nov. 15 (Bloomberg) -- Alzheimer’s Research U.K., the country’s leading dementia research charity, will fund a new drug discovery institute to address a gap in treatments it says the pharmaceutical industry has failed to fill.

The charity will ask universities in the U.K. to apply to host the institute, which will aim to develop new treatments for Alzheimer’s, it said in a statement today. Alzheimer’s Research U.K. will fund the institute with a 2 million-pound ($3.2 million) grant per year for at least five years, spokeswoman Kirsty Marais said by phone.

The pharmaceutical industry has so far failed to successfully develop remedies to slow or treat the disease itself, with current medicines only targeting symptoms. That difficulty has spurred drugmakers to collaborate with academic institutions such as the University of Oxford, which has identified Alzheimer’s as a priority for its Target Discovery Institute, inaugurated earlier this year.

“This innovative idea will bring together the best of both academic and industry expertise to drug discovery, an approach which has already shown benefits in tackling cancer,” said Alison Goate, a professor of genetics in psychiatry at Washington University in St. Louis. “Now is the ideal time for a similar approach to be made in neurogenerative diseases.”

At least 35.6 million people have dementia, and the numbers are projected to almost double every 20 years, according to the World Health Organization. Dementia care costs about $600 billion a year worldwide and may rise to $1.1 trillion by 2030, according to Alzheimer’s Disease International.

To contact the reporter on this story: Makiko Kitamura in London at mkitamura1@bloomberg.net

To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.