Indianapolis-based Eli Lilly and Co. (NYSE: LLY) says it will be a key collaborator in a $100 million Dementia Discovery Fund. The company joins investors including the United Kingdom Government’s Department of Health and other pharmaceutical companies in supporting global dementia research.
The fund aims to find and foster new global research on dementia and accelerate the development of new treatments for the disease. Lilly says dementia affects more than 47 million people around the world at a cost of more than $600 billion per year.
In a release from Lilly, Executive Vice President of Science and Technology Jan Lundberg said, "Our investment in this fund reflects Lilly’s commitment to innovation and our history of collaboration. We look forward to working as part of this collaboration to speed the discovery of new medicines to treat one of the world’s most devastating diseases."