The Dementia Discovery Fund Raises $350 Million
The Dementia Discovery Fund (DDF) today announces the completion of its fundraising, with £250 million ($350 million at the time of completion) raised from an influential group of strategic investors committed to developing new medicines for dementia. The goal was met today with a new investment of $60 million from US AARP, the global nonpartisan organisation dedicated to empowering Americans 50 and older to choose how they live as they age.
The fundraising far exceeded its initial target of $200 million (£130 million), making it the first and largest venture fund focused entirely on discovering and developing novel therapies for dementia, including Alzheimer’s disease.
The DDF makes early stage venture capital investments to develop novel disease-modifying therapeutics for all forms of dementia. The fund is managed by SV Health and was formed through the collaboration of leading pharmaceutical companies (Biogen, Eli Lilly and Company, GSK, Johnson & Johnson, Otsuka (Astex), Pfizer and Takeda), the UK Department of Health and Social Care and the charity Alzheimer’s Research UK (ARUK).
In addition to the $60 million investment from AARP and commitments from new investors UnitedHealth Group, Aegon, Quest Diagnostics, British Patient Capital and several others, the DDF has a broad and influential investor base, which includes Bill Gates, seven leading pharmaceutical companies, Woodford Investment Management via Woodford Patient Capital Trust (WPCT), the NFL Players Association, the UK’s Department of Health and Social Care and ARUK.
Since its launch in October 2015, the DDF has made significant progress building an initial portfolio of 16 investments in drug discovery companies and projects predominantly in the UK and US in areas including microglial biology and inflammation, mitochondrial dynamics, trafficking and membrane biology and synaptic physiology and function. The DDF team believes there is a significant opportunity to develop dementia drugs targeting biological pathways beyond the prevailing amyloid beta hypothesis and to apply insights from areas such as oncology and immunology to develop novel drugs targeting these other biological pathways that may drive different forms of dementia.
The DDF is uniquely positioned to benefit from the expertise of its world-class Scientific Advisory Board (SAB) which includes heads of Neuroscience and/or R&D from major pharma companies and ARUK, who collectively have a major network and experience in neuroscience drug discovery. The SAB provides ongoing advice and knowledge, offers insights on different approaches and historical failures, suggests priority areas to explore new approaches to treat dementia and advises on strategies to drugging these new pathways.
In line with increased investor demand, the DDF’s team has continued to grow and today it announces the appointment of Angus Grant, PhD as Chief Executive Officer. Dr Grant has more than 20 years’ international experience in the regulation and development of pharmaceuticals, most recently having been Corporate Vice President, Business Development at Celgene. Prior to joining Celgene, he held numerous positions in business development and regulatory affairs at Novartis, Merck KGaA/EMD, RPR/Gencell and SmithKline Beecham. Prior to joining industry, Dr Grant worked at the US National Institutes of Health and the Food and Drug Administration. He sits on the Board of MaRS Innovation – Toronto - A University Consortium to foster the creation of start-up companies in Ontario. Dr Grant holds a PhD in Anatomy/Immunology from the Medical College of Virginia, Richmond, US. He will be based in the DDF’s US office in Boston.
Kate Bingham, Managing Partner of SV Health Investors, said: “Since we first launched the DDF, we have made significant progress in identifying and supporting some of the most impressive science in neurodegeneration. The investment from the AARP is further recognition of the potential of our unique approach to finding important treatments for dementia that alter the course of disease and, potentially, a broad range of associated neurodegenerative disorders. The investment will also provide the DDF with broader reach, access and visibility to the older community, for whom dementia is a growing risk. At the DDF, we are focused on scientific approaches that look beyond the amyloid beta pathway into other areas, such as inflammation, mitochondrial function and the preservation and enhancement of healthy brain cells. These areas are highly likely to be important to chronic traumatic encephalopathy or traumatic brain injury, leading to renewed hope for treatment of these terrible disorders.
“AARP’s investment follows recent US investments from Bill Gates ($50 million) and the NFL Players Association and represents further US interest in the fund, reflecting the global importance of developing new treatments for dementia.
“We are also particularly pleased to be welcoming Angus Grant to the DDF. Angus has a huge amount of experience in identifying, developing, funding, regulating and deal making with novel therapies internationally and we look forward to the significant guidance and expertise that he will bring.”
Jo Ann Jenkins, CEO of AARP, added: “Dementia doesn’t just affect those with the disease. It takes a devastating emotional, physical and financial toll on families and caregivers. The projected doubling of the size of the 65+ population over the next generation makes finding new ways to treat dementia, including Alzheimer’s, even more critical. AARP, now in its 60th year of advocacy on behalf of people age 50-plus and their families, is proud to make a $60 million investment in the Dementia Discovery Fund to help fuel its ongoing efforts to develop new treatments for this devastating disease.”
See our Dementia Discovery Fund video here
For further information, please visit the DDF website at www.theddfund.com
About the Dementia Discovery Fund (DDF)
The DDF is a venture capital fund which invests in projects and companies to discover and develop novel, effective disease-modifying therapeutics for dementia. Seven leading pharmaceutical companies (Biogen, Eli Lilly and Company, GSK, Johnson & Johnson, Otsuka (Astex), Pfizer and Takeda), AARP, Aegon, Bill Gates, British Patient Capital, NFL Players Association, Quest Diagnostics, UnitedHealth Group, Woodford Investment Management via Woodford Patient Capital Trust (WPCT), the UK’s Department of Health and Social Care and charity Alzheimer’s Research UK have invested in the DDF to date. Heads of Neuroscience and R&D represent these strategic investors on the DDF Scientific Advisory Board and work closely with SV’s dedicated team of neuroscientists and experts to identify and evaluate novel approaches for the treatment of dementia. SV won the bid to become Manager in a competitive selection process held in 2015. www.theddfund.com
About SV Health Investors
SV Health Investors, formerly named SV Life Sciences, is a healthcare and life sciences venture capital and growth equity firm. SV targets early-stage opportunities in biotechnology; early-stage and revenue-stage opportunities in medical devices; and growth equity investments for later-stage businesses in healthcare services and digital health. Over the past 20 years, SV Health Investors has invested in more than 175 companies. The firm currently has over $2.5 billion of capital commitments under management. SV Health Investors has offices in Boston and London. For more information, please visit www.svhealthinvestors.com.
About the AARP
AARP is the US’s largest non-profit, nonpartisan organisation dedicated to empowering people 50 and older to choose how they live as they age. With a nationwide presence and nearly 38 million members, AARP strengthens communities and advocates for what matters most to families: health security, financial stability and personal fulfilment. To learn more, visit www.aarp.org
Dementia Discovery Fund
Laurence Barker, CBO
+44 20 7421 7094
Consilium Strategic Communications
Mary-Jane Elliott, Ivar Milligan, Melissa Gardiner
+44 20 3709 5700
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
American Airlines Announces Nonstop Philadelphia (PHL) to Orlando Melbourne (MLB)22.9.2018 01:13 | Tiedote
Glorious beaches by day and theme park fireworks by night just got more convenient for Philadelphia travelers. American Airlines announced today that it will begin nonstop flights to Orlando Melbourne International Airport (MLB) starting February 16, 2019. The Central Florida airport is conveniently located in the heart of the tourism region and is the closest airport to NASA rocket launches, Port Canaveral’s cruises and what critics call “some of the most beautiful beaches Florida has to offer.” The flights will depart Saturdays from Philadelphia at 8:05 a.m., arriving in Florida at 10:48 a.m. The Embraer 175 jet arrival time syncs perfectly with cruise ship noon early boarding. Melbourne Airport Express offers nonstop shuttle service to the port, and all major rental car companies are onsite. The return flight to PHL departs at 11:24 a.m. and arrives in PHL at 1:55 p.m., with enough time to connect to some of American’s largest international destinations, including recently announced
Amy Palladino Joins BCW as Executive Vice President, Managing Director, Corporate Practice21.9.2018 20:43 | Tiedote
BCW (Burson Cohn & Wolfe), a leading global communications agency, today announced that Amy Palladino has joined the agency as Executive Vice President, Managing Director in the agency’s U.S. Corporate Practice. Based in New York, Palladino will focus on senior client counsel and executive positioning for the agency’s largest corporate clients. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180921005507/en/ Amy Palladino Joins BCW (Burson Cohn & Wolfe) “Amy is a talented and highly experienced communications executive with a track record of solving clients’ complex challenges and building business through smart, integrated communications approaches,” said Chris Foster, President, North America, BCW. “Her creativity and judgement will be enormously valuable to our current and prospective clients.” Palladino has more than 20 years of experience advising global clients across numerous industries, including technology, healthcar
Heidelberg Engineering Announces the CE-Marking of ANTERION21.9.2018 19:41 | Tiedote
Heidelberg Engineering, the leader in diagnostic imaging known for the internationally-acclaimed SPECTRALIS ® retina and glaucoma platform, announces the CE-marking of ANTERION ® – an innovative platform designed to transform anterior segment diagnostics and workflow. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180921005442/en/ The new Heidelberg Engineering ANTERION® provides the most important anterior segment examinations and measurements in one modular, upgradeable platform. (Graphic: Business Wire) The new ANTERION provides the most important anterior segment examinations and measurements in one modular, upgradeable platform. It is a single, workflow-efficient solution that brings together corneal topography and tomography, anterior segment metrics, axial length measurement and IOL calculation to transform the day-to-day routine of busy practices and clinics. Heidelberg Engineering has leveraged its core OCT technolo
Florian Winterstein Becomes New CEO of Jedox21.9.2018 18:46 | Tiedote
The supervisory board of Jedox AG, a leading vendor of business intelligence and enterprise planning software, has appointed Florian Winterstein as Chief Executive Officer (CEO) effective October 2, 2018. This nomination will support Jedox’s international growth and a new development phase initiated by its latest fund raising in April 2018 with Iris Capital, eCAPITAL entrepreneurial Partners AG and Wecken & Cie. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180921005416/en/ Florian Winterstein (Photo: Business Wire) With 25 years of experience in strategy consulting and leadership in software and service organizations, Winterstein brings to the company a valuable combination of expertise in cloud solutions, business development, and value creation for customers and partners. As former Chief Strategy Officer of BravoSolution, he positioned the software-as-a-service company as trendsetting digitalization partner, extending it
Avinor to Test Autonomous Snowploughs at Oslo Airport This Winter21.9.2018 17:37 | Tiedote
Since 2010 Avinor has had a vision and a desire to automate winter maintenance. In March autonomous snow clearing was demonstrated at Fagernes Airport, and this winter Avinor is taking this a step further by testing two autonomous snowploughs at Oslo Airport. The project is one of the first globally where large machinery will operate autonomously to keep snow away from airport areas. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180921005363/en/ Avinor to Test Autonomous Snowploughs at Oslo Airport This Winter (Photo: Business Wire) “Innovation is important to Avinor. In the future, many tasks in aviation will be resolved in other ways than today. Avinor wants to test autonomy, and does of course see a potential for rationalization in the future through new solutions for winter operations and in other areas. Avinor is at the forefront of testing this technology, but it is essential that safety is ensured in all such testing
Takeda Receives Positive CHMP Opinion Recommending ALUNBRIG® (brigatinib) for the Treatment of ALK+ Non-Small Cell Lung Cancer in Patients Previously Treated with Crizotinib21.9.2018 16:30 | Tiedote
Takeda Pharmaceutical Company Limited (TSE: 4502) today announced that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) has adopted a positive opinion, recommending the full approval of ALUNBRIG® (brigatinib) as a monotherapy for the treatment of adult patients with anaplastic lymphoma kinase-positive (ALK+) advanced non-small cell lung cancer (NSCLC) previously treated with crizotinib. ALUNBRIG is a tyrosine kinase inhibitor (TKI) designed to target and inhibit the ALK mutation in NSCLC. Approximately three to five percent of NSCLC patients globally have the ALK mutation. If the CHMP opinion is affirmed, and the European Commission approves ALUNBRIG, it will become the only ALK inhibitor available in the European Union as a one tablet per day dose that can be taken with or without food. The randomized, global Phase 2 ALTA trial was designed to investigate the efficacy and safety of ALUNBRIG in patients with locally advanced or metastatic ALK+
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme