Astex Pharmaceuticals, a developer of small molecule therapeutics for oncology, has become a strategic investor in the $100m UK-based Dementia Discovery Fund (DDF), which supports the development of novel dementia treatments.
Astex, a UK-based subsidiary of Japan-headquartered drugs manufacturer Otsuka Group, joins an investor group that includes pharmaceutical firms Biogen, GlaxoSmithKline, Johnson & Johnson, Lilly, Pfizer and Takeda.
The UK government’s Department of Health and medical charity Alzheimer’s Research UK are also limited partners in the fund, which is managed by venture capital firm SV Life Sciences.
A global investment fund with an initial 10-year life span, DDF was established in October 2015 to discover and develop innovative drugs that can diagnose and treat neurodegenerative diseases such as dementia.
The fund works with universities, academic institutes and the wider pharmaceutical industry to identify and support research projects as they advance to clinical testing.
Since Astex was acquired by Otsuka in 2013, the company has broadened its focus to include the development of treatments for disorders of the central nervous system (CNS).
As part of DDF, Astex will contribute to the work of discovering innovative therapeutics for neurodegenerative disorders as it continues its CNS drugs research.
Astex will take a seat on DDF’s scientific advisory board, which includes academics and representatives from other DDF strategic investors, and will help to strengthen the fund’s collaborative networks and advise its investment team.