Eli Lilly and Co. has recently announced that it will be a key partner in the $100 million Dementia Discovery Fund (DDF), which expects to hasten the development and discovery of better treatments for dementia. This is the first-ever global research fund for dementia to be set up. The fund was launched after securing various investors funding. Some of the major investors I n the fund are; Eli Lily, Alzheimer’s Research UK, UK Government’s Health department and a number of pharmaceutical companies globally. All this is aimed at funding the experiments to come up with a cure for the disease.
Lilly was quoted saying that they are delighted to be part of the Dementia Discovery Fund as it will help solve some of the many challenges that are faced by people in the world. The disease is one of the greatest challenges that face people in the world, especially the old. They also welcomed the UK Government’s leadership in the area. Due to the expertise and the extensive research that has been carried out by the UK Government on the disease, Lily is sure that they projected will benefit a lot from this Government’s expertise. The project is aimed at speeding up the discovery of new medicines that can be used in treating this devastating disease.
The DDF collaboration aims at identifying and fostering new innovative global research about dementia. It will to a great extent support Lilly’s commitment to exploring different approaches leading to new scientific discoveries. With this financial support and the expertise of the UK Government, Lilly is confident that there will be accelerated developments of new treatments to treat the disease.
The DDF recently revealed that that SV Life Sciences will be the fund manager. It will be supported by Scientific Advisory Board which is made up of some of the best leading world’s scientists. The board’s aim will be to advice on the potentially innovative and viable projects in which the fund can be invested with the aim of accelerating the development of better treatments for dementia and its symptoms.
In terms of statistics, dementia is a significantly important disease; it affects over 47 million globally. The cost of treatment of these people is over $604 billion a year. There are over 7.7 million new cases annually. Alzheimer’s is the greatest leading cause of dementia. Over 60-70% of all cases of dementia can be attributed to the disease. There is no known cure for dementia. The only available treatments are meant to slow down or temporarily alleviate the symptoms. It is Lilly’s hope that this fund will make all these grim statistics a thing of the past.