AMSTERDAM, Jan. 12, 2021
AMSTERDAM, Jan. 12, 2021 /PRNewswire/ -- LSP, the leading European life sciences investor, today announces the launch of the LSP Dementia Fund, a fund dedicated to fight neurodegenerative diseases. The fund will be managed by Professor Philip Scheltens, a world-renowned dementia scientist and thought leader.
Dementia is the greatest healthcare challenge of our time. A staggering 50 million patients suffer from dementia worldwide and predicted to triple to 150 million before the year 2050. The burden to our healthcare system is equally large; global costs are currently estimated to amount to over $800 billion - or 1.1% of global GDP - and will rise exponentially if no treatment is found. Yet, investments in R&D to find novel treatments are lagging behind.
The LSP Dementia Fund focuses on all stages of dementia drug and medtech development and as such is the first of its kind in the world. It offers the combination of LSP's deep investment experience with Philip Scheltens' impressive scientific acumen and extensive network of dementia experts and research institutions across the globe. The focus will be on finding novel treatments to battle the different neurodegenerative diseases, such as Alzheimer's disease, that cause dementia, as well as generating a strong financial return for investors. This makes the LSP Dementia Fund a true impact investment. In just a few months, LSP raised €50 million from strategic parties, financial institutions, and family offices. Given this significant appetite of investors, LSP believes the fund will ultimately reach at least €150 million.
Dr. René Kuijten, Managing Partner of LSP and founder of the LSP Dementia Fund, comments: "LSP is very honoured that Philip has joined our firm to lead this new and unique fund. In the past two decades, venture capital has proven to play an essential role in advancing biotech companies, but dementia opportunities remained largely unfunded. Together with Philip and his network, we now have a truly unique expertise in-house to identify and develop breakthrough ideas in the dementia field, ultimately leading to solutions for patients suffering from this terrible disease''.
Prof. Philip Scheltens states: "I am excited to make this move in my career to realise treatment options for patients, building on and combining it with the work I was able to do at the Alzheimer Center Amsterdam. I am very honoured to be a part of the LSP team, the largest and most experienced life sciences investor in Europe."
About Philip Scheltens
Philip Scheltens recently joined LSP as Founder and Managing Partner of the Dementia Fund. Philip is a neurologist and Professor of Cognitive Neurology at Amsterdam University Medical Centers. He heads the internationally renowned research institute he founded at this institution: the Alzheimer Center Amsterdam. Philip is a prominent global opinion leader in the dementia field and as such has published well over 1,000 publications in leading scientific journals, supervised the completion of more than 75 PhD theses and trained many clinical fellows of which five were appointed professor. Philip has been dedicating his career to improving the diagnosis and care of patients with dementia. His next challenge is to find breakthrough therapies for patients with dementia, together with LSP. He will keep his affiliation with the Alzheimer Center Amsterdam.
LSP is one of the largest European investment firms providing financing for life sciences and health care companies. LSP's management has raised over €2 billion ($2.3 billion) and developed more than 120 companies since it started to invest in 1988. With offices in Amsterdam, Munich and Boston, LSP currently has the possibility to invest from four funds, each having a distinctive investment scope and a dedicated team: LSP 6 invests in private early- to late-stage drug development and medical technology companies; LSP HEF 2 focuses on private late-stage medical technology companies with a health and economic benefit; LSP Dementia invests in private companies targeting neurodegenerative diseases; and LSP Public targets public healthcare companies. Among LSP's signature deals are argenx, Crucell, KuDOS, Movetis, Neuravi, Okairos, Prosensa, Qiagen and Zealand Pharma. In addition, LSP is an active contributor to the life sciences industry through roles as founder and board member of the Oncode Institute, initiator of the Dutch Venture Initiative (DVI), as well as board member of European venture capital associations, technology transfer institutes and government bodies. For more information: lspvc.com.