Though treatment for alzheimer's and dementia has not been cracked yet, a new legislation may atleast help in funding for research initiatives for Alzheimer's.
U.S. Senator Shelley Moore Capito Wicker has announced support for legislation to create prize-based incentives that encourage more public-private collaboration in the fight against Alzheimer's disease and dementia.
The new act called Ensuring Useful Research Expenditures is Key for Alzheimer's (EUREKA) will authorize the Director of the National Institute of Health to work with other federal agencies to establish prize challenges to reach research milestones. It will just add another route for breakthroughs in treatment and cure for dementia.
"The EUREKA Act offers an innovative approach to preventing and treating Alzheimer's, which affects far too many of our families. Through public-private partnerships and leveraging the smartest ideas with research at the National Institutes of Health, we can better understand, identify and eventually cure this devastating disease," said Wicker.
According to a report released earlier this year, caring for people with Alzheimer's disease and other dementias is estimated to cost the United States $226 billion in 2015, with one in five Medicare dollars spent on an Alzheimer's victim.
The National Institute of Health (NIH) has set a goal of curing Alzheimer's by 2025. Today, Alzheimer's is the most expensive disease in America and has a 100 percent fatality rate. Unless a cure is found, treatment costs are expected to grow to an estimated $1.1 trillion by 2050.
"America has always been the home of groundbreaking innovation. We compete to create, build, and make a difference in people's lives. The 'EUREKA Act' seeks to channel this pioneering spirit through competition to help us better understand, detect, and ultimately cure Alzheimer's disease. Given today's budget constraints, it is important to find a way to supplement existing funds to further this critical research," said Wicker.
EUREKA Act prize challenges could focus in a number of areas including:
- Identification and validation of Alzheimer's biomarkers
- Development of non-invasive and cost-effective detection and diagnostic tools
- Repurposing of existing drugs to address Alzheimer's disease
- Development of new tools and approaches to care for persons with Alzheimer's disease