Janssen and NHS launch Innovation Challenge Prize for Dementia

Janssen has announced that it is partnering with the NHS to launch the inaugural Innovation Challenge Prize for Dementia, which aims to make a real difference in the treatment of the condition.

The scheme will see a prize of 150,000 pounds allocated by Janssen's Healthcare Innovation team to developers of potential solutions that could directly or indirectly improve the lives of those affected by dementia.

An expert panel consisting of NHS representatives – including clinicians and managers – and innovation leaders from academia, industry and other sectors will be called upon to select the winners of the award.

It is estimated that 800,000 people are currently living with dementia in the UK, creating costs of 23 billion pounds for the NHS each year – a sum that is expected to increase by five billion pounds in the next five years.

Marco Mohwinckel from Janssen Healthcare Innovation said: "We hope this initiative will help identify forward-thinking solutions to help transform care for people with dementia and better support their caregivers."

Earlier this month, the firm published an article in Nature Reviews Drug Discovery calling for more integrated approaches to healthcare challenges, rather than solely focusing on "magic bullet" drug development efforts.