AARP announced Monday that it will invest $60 million in the fight against dementia, including Alzheimer’s disease.
About 10 million new cases of dementia and Alzheimer’s disease occur each year worldwide, and there is no cure.
Dementia’s impact on family and caregivers is expected to grow as the number of people with the condition in the United States is estimated to reach 14 million by 2050, AARP research found.
AARP’s Disrupt Dementia campaign will invest $60 million in the Dementia Discovery Fund, which is the “first and largest venture fund focused on discovering and developing effective new drugs for treating dementia.”
AARP also helped secure the participation of UnitedHealth Group and Quest Diagnostics, which have invested $10 million and $5 million respectively – totaling $75 million.
One in three U.S. physicians feel that current dementia treatment options are poor, a newly released AARP survey found.
The last Alzheimer’s drug was approved more than a decade ago and only brings temporary relief of disease symptoms, according to AARP.