Venture Capital: The LSP Dementia Fund Closes €260M (US$283M) To Address Dementia, One Of The Most Significant Health Crises Of Our Era
Dementia is the greatest health challenge of our time: there are 54 million patients with the disease worldwide, and without significant time and investment in battling the disease, this number is predicted to triple by 2050.
The LSP Dementia Fund has reached a final close at €260 million (US$ 283 million), surpassing its initial target of €100 million. The fund, which is managed by EQT Life Sciences, aims to invest in companies that are developing breakthrough drug therapies and medical technologies for neurodegenerative diseases. These diseases are some of the biggest healthcare challenges in the world, with 54 million patients affected globally.
Philip Scheltens, an expert in dementia research and a professor emeritus at Amsterdam University Medical Center, leads the investment team. The team includes investment professionals with expertise in medicine, science, business, and finance. (EQT)
Investors include the Alzheimer’s Association, several global pharmaceutical companies, and insurance companies, among others. The fund intends to invest in 10 to 15 companies in total, and has already invested in five companies, including NewAmsterdam Pharma, Muna Therapeutics, AviadoBio, Nobi, and QurAlis.
The LSP Dementia Fund aims to address the disparity in funding for research and development in dementia compared to other significant healthcare issues like cancer, HIV/AIDS, and cardiovascular disease. It will bring new treatments to patients suffering from dementia, while earning lucrative financial returns for its investors.
EQT is a global investment organization with €113bn in assets under management, and has supported the growth of over 150 companies since it started to invest over 30 years ago. In 2022, EQT Life Sciences came into existence when LSP, a renowned European venture capital firm specializing in life sciences, merged with the EQT platform.
Related Story: AI Model Detects Alzheimer’s Disease From Audio Recordings
Photo by Steven HWG on Unsplash
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