Teva invests $21m in UK dementia research

Teva has announced plans to invest a total of $21 million (12.6 million pounds) in clinical trials and a dementia research programme in the UK.

The funds comprise $20 million to further Teva's clinical-stage pipeline in the country, as well as $1 million for the three-year, nationwide research programme.

They were pledged during a visit by prime minister David Cameron to Israel, where the pharmaceutical company is headquartered.

Under the terms of the agreement, the UK National Institute for Health Research (NIHR) Office for Clinical Research Infrastructure will give Teva access to NIHR Biomedical Research Centres and Research Units working in the dementia field.

It will benefit from the NIHR Translational Research Collaboration infrastructure, allowing it to set up and deliver clinical trials from cohorts of NHS patients quickly and efficiently.

The collaboration was set up following Mr Cameron's 2012 pledge to double annual funding for research into dementia and neurodegenerative diseases to £66 million by 2014-15.