Big Pharma backs $100M dementia R&D fund

Some of the top companies in Big Pharma have contributed to a $100 million venture fund that will be invested in R&D aimed at finding new therapies for Alzheimer's. Biogen ($BIIB), GlaxoSmithKline ($GSK), Johnson & Johnson ($JNJ), Lilly ($LLY), Pfizer ($PFE) and Takeda joined hands with the U.K. government in coming up with the cash for the Dementia Discovery Fund, which will be managed by SV Life Sciences. The game plan at the new fund will be to invest in preclinical research activities. Alzheimer's afflicts millions of people around the world, but the late-stage pipeline has been afflicted by repeated failures as researchers continue to puzzle out what triggers the memory-stealing disease. Release