Wednesday, March 18, 2015
JP Morgan, Johnson & Johnson and Pfizer Lead the Charge to Develop Dementia Treatment
JP Morgan has partnered with the UK government to launch a new multimillion pound fund to encourage research into treatment for dementia.
The New York-based investment bank said it had been working with the government to structure the Dementia Discovery Fund in such a way that it would make a profit for investors while funding research that would ultimately lead to the development of new drugs to treat the condition, which affects around 47m people worldwide.
In addition, a number of major global pharmaceutical companies, includ-ing Biogen, GLAXOSMITHKLINE, Johnson & Johnson, Lilly and Pfizer have agreed in principle to invest in the project, alongside charity group Alzheimer's Research UK and the UK government.
The announcement of the new Dementia Discovery Fund coincided with the World Health Organisation's (WHO) First Ministerial Conference on Global Action Against Dementia, which took place on Monday and yesterday in Geneva....