A biotechnology industry company called Cognitive Therapeutics has decided to test its new Alzheimer’s drug in Australia rather than in Europe or the United States, a recent report in The Australian revealed. The decision was based on the fact that Nucleus Network in Melbourne, where the clinical trials are to take place, has a great deal of expertise in neuroscience. The fact that the exchange rate for the Australian dollar is very favorable also factored into the decision.
Cognitive has been backed by a number of Australian investors in its quest to develop treatments for Alzheimer’s and other neurodegenerative diseases. The company has raised $12 million by “an investment syndicate led by US-based female entrepreneur-focused angel network Golden Seeds, which includes Australia-based Scale Angels.“ Scale Angels contributed $400,000 to the fund.
The drug is designed to protect the synapses of the human brain from a protein that builds up over time due to Alzheimer’s, causing the cognitive impairment that is a feature of the disease. If the drug proves to be successful, it could be used to stave off the effects of Alzheimer’s and improve the quality of life for those suffering from the disease for many years.
Alzheimer’s is the second leading cause of death in Australia, with 350,000 people suffering from the disease currently, Australia, as with many other countries in the first world, has an aging population, the result of which could see 900,000 people having Alzheimer’s by the year 2050. That fact, manifested in other countries, suggests that effective treatments need to be developed to avoid the burden that so many sufferers would cause.
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