Five drug makers are pooling a total of $100 million in a venture capital fund along with the British government and a charity to help find treatments for Alzheimer's and other forms of dementia, reports said Tuesday. The companies pitching in are Biogen Idec Inc. , GlaxoSmithKline , Johnson & Johnson , Eli Lilly & Co. and Pfizer Inc. The U.K. government along with Alzheimer's Research U.K. are part of the effort as well. Partners in the effort will search for and invest in the most promising research in the field. Proceeds from any licensing or sale of the research would be returned to investors in the fund.
Copyright © 2015 MarketWatch, Inc.
Continue Reading Below