Supporting Alzheimer's Research UK involvement in £250m UK Dementia Research Institute
20 Nov 2017
Simmons & Simmons has advised Alzheimer’s Research UK on its participation in the UK Dementia Research Institute (UK DRI) with the Medical Research Council and the Alzheimer’s Society. The joint £250 million investment in the institute aims to find new ways to diagnose, treat and prevent dementias, whilst finding better ways to provide care for people with dementia.
Dementia affects 47 million people globally, with nearly 10 million new cases each year. The global cost of dementia is expected to reach $2 trillion by 2030, if no improvements in treatment and care are made.
The UK DRI will bring together world-leading expertise in a national institute of over 400 scientists to carry out research relevant to all dementias, including Alzheimer’s disease, Parkinson’s disease, frontotemporal dementia, vascular dementia, Huntington’s disease. The institute is made up of six centres at universities across the UK, with its headquarters based at University College London. Having centres located across the UK allows the institute to bring people together for shared scientific inspiration, whilst making the most of cutting-edge tools and infrastructure locally.
Centred on the need for innovative, early-stage science to advance understanding of how dementias develop and progress, the UK DRI’s research aims to bring new treatments to people with dementia faster.
Partner, Charles Mayo led the Simmons & Simmons team, supported by Federica Titon. Darren Oswick advised on tax matters, with Richard Binns and Nicola Walles advising on IP. Partner Robert Meakin of Stone King advised on the charity law aspects.
Dr Matthew Norton, Director of Policy and Strategy at Alzheimer’s Research UK, said:
“The UK DRI is a landmark initiative in the UK that will create a powerhouse of dementia discovery science to fast-track the search for much-needed new treatments. To realise such a bold and ambitious collaboration requires a lot of hard work behind the scenes even before the first experiments can get underway. We’re hugely grateful to Simmons & Simmons for their life sciences expertise and guidance to help Alzheimer’s Research UK cement our involvement in the UK DRI and support the crucial first steps in making the ambitions of the institute a reality.”
This transaction is the latest in a series of innovative, collective funding arrangements on which the firm has advised in the life sciences sector. The FT Innovative Awards highlighted both the firm's work for GSK on the Apollo Therapeutics joint venture investment fund and for the UK Department of Health on the launch of the global Dementia Discovery Fund, a groundbreaking transaction in which Alzheimer’s Research UK were also involved