Apple Inc. has announced a $1.5 billion investment into beta amymlloid drug development company Amyloid Inc., a new venture backed by Microsoft Corp., which is working on developing drugs for Alzheimer and other dementias.
The $1,000-a-share investment is the largest ever in the field of Alzheimer’s research, and it will help Apple continue to develop and market new therapies to tackle the disease.
Apple CEO Tim Cook, who is also Apple’s chairman and chief executive officer, said the company is also committed to developing new products to fight other types of diseases, including cancer.
The company is still in the early stages of testing a variety of new drugs, and is still exploring a variety more effective than Amyloids in treating various forms of dementia.
Apple also announced a deal to partner with a private lab to produce Amylotic antibodies.
The research arm of the company has focused on developing the antibodies in its own labs, and Apple says it has more than $400 million in funding available for further research.