Investing in Alzheimer’s
In 2017 Bill Gates, American business magnate, investor, author, philanthropist, humanitarian and principal founder of Microsoft Corporation, announced that he was investing in Alzheimer’s research. Seeking to improve the lives of people who have the disease and their loved ones, he decided that one of the most important areas of focus should be to “develop a reliable, affordable and accessible diagnostic.”
He related that the “process of getting diagnosed with Alzheimer’s today is less than ideal,” because the diagnostic tests, which are expensive and difficult, may not be definitive. In addition, the testing starts when the patient is already showing cognitive decline. “We need a better way of diagnosing Alzheimer’s — like a simple blood test or eye exam — before we’re able to slow the progression of the disease,” he said. “Although (today’s) tests are fairly accurate, the only way to diagnose the disease definitively is through an autopsy after death. We need a better way of diagnosing Alzheimer’s — like a simple blood test or eye exam — before we’re able to slow the progression of the disease.”
Gates decided that his next investment in Alzheimer’s research would be in a new fund called Diagnostics Accelerator, a project of the Alzheimer’s Drug Discovery Foundation (ADDF) that attempts to “accelerate bold new ideas for earlier and better diagnosis of the disease.” During the summer of 2018, Gates joined Leonard Lauder, ADDF, the Dolby family, the Charles and Helen Schwab Foundation and other donors “in committing more than $30 million to help launch Diagnostics Accelerator.”
Explaining that Diagnostics Accelerator, a venture philanthropy vehicle, is different from most funds, Gates said that while investments from governments or charitable organizations are “fantastic at generating new ideas and cutting-edge research,” they may not always be able or adept at developing. They is that “no one stands to make a profit at the end of the day.” On the other hand, venture capital “is more likely to develop a test that will actually reach patients, but its financial model favors projects that will earn big returns for investors.”
Bringing together the best of both worlds, venture philanthropy provides the incentive for “a bold, risk-taking approach to research with an end goal of a real product for real patients.” He added, “If any of the projects backed by Diagnostics Accelerator succeed, our share of the financial windfall goes right back into the fund.”
Gates related that his “hope is that this investment builds a bridge from academic research to a reliable, affordable, and accessible diagnostic.” He thinks the incentive might bring people who have innovative ideas but who previously lacked the financial resources to research and develop new diagnostic tools for Alzheimer’s. He hopes that such people will contact him and apply for funding on the new Diagnostics Accelerator website: https://www.alzdiscovery.org/research-and-grants/diagnostics-accelerator.
His blog post concluded, “Imagine a world where diagnosing Alzheimer’s disease is as simple as getting your blood tested during your annual physical. Research suggests that future isn’t that far off, and Diagnostics Accelerator moves us one step closer.”
