US billionaire Bill Gates and Leonard Lauder, honorary president of Estee Lauder Cosmetics, said they would allocate $ 30 million over three years to encourage the development of new tests for the early detection of Alzheimer's disease, according to AFP.
For Microsoft founder Gates, the launch came after a $ 50 million personal investment was announced in November in the Dementia Discovery Fund, a fund designed to look for therapies for brain damage.
Gates said one of his motives was his personal experience with family members suffering from Alzheimer's disease.
The Alzheimer's Association says the disease affects nearly 50 million people worldwide and is expected to increase to more than 131 million by 2050.
Gates and Wooder provided the seed capital for early-diagnosis efforts through the foundation established by Lauder to develop Alzheimer's drugs. They will be joined by others, including the Dolby family, the Charles Foundation and Helen Schwab.
The funds provided through the initiative will be available to scientists and physicians who work globally in academia, philanthropic institutions and biotechnology companies.