GSK leads pharma companies contributing to venture capital-managed Dementia Discovery Fund

A new investment fund, the Dementia Discovery Fund, has been launched and managed by venture capital firm SV Life Sciences, after raising $100 million from investors throughout the industry.

The UK’s Department of Health, the charity Alzheimer’s Research UK and six pharma companies have raised $100 million to invest in early-stage, novel treatments for Alzheimer’s, Parkinson’s and other forms of dementia. The six companies are GlaxoSmithKline (LSE: GSK), Johnson & Johnson (NYSE: JNJ), Biogen (Nasdaq: BIIB), Eli Lilly (NYSE: LLY), Pfizer (NYSE: PFE) and Takeda (TYO: 4502). GSK is making the biggest contribution towards the fund with $25 million, while the UK government is giving $22 million.

The stated goal of the fund, which was first announced in March, is to "deliver new drug approaches for dementia by 2025 to diagnose, intervene early and treat to modify the course and symptoms of the disease."