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Prime Minister David Cameron is pledging £150million to help fight dementia.

Coming in the wake of news today that the Chancellor, George Osborne, is to give the NHS a multi-billion pound injection, there was also welcome news from David Cameron that some of this money will go towards the creation of the nation’s first Dementia Research Institute.

The institute will open by 2020, and will be involved in developing diagnostic tests to stop conditions such as Alzheimer’s before they strike, and treatments to tackle the disease’s progression.

Tomorrow, George Osborne will announce during his autumn spending review statement that the NHS will receive £6billion straight away – rising to £10billion a year by 2020 – in a bid to deliver ‘world-class treatment’ for millions, and help allay the growing financial crisis that’s occurring in the NHS and stabilise the pressures that many running it are facing.

The new Dementia Research Institute follows an agreement made by Prime Minister David Cameron and the World Dementia Council to identify a cure or disease-modifying therapy for dementia by 2025.

Mr Cameron said that the new institute will bring together world leading experts, universities and organisations to drive forward research and innovation in fighting dementia.

‘For far too long this terrible condition has been ignored, down-played or mistaken as a part of the ageing process,’ Mr Cameron said. ‘When the truth is – dementia is one of the greatest enemies of humanity.

‘I have been clear that I want Britain to lead the way in tackling this disease. And we have already taken great strides – since 2010 investment in research has doubled, hundreds of thousands of NHS and care staff have had specialist training and more than 1 million dementia friends have taken part in awareness sessions across the country.

‘This Institute is another great step – and will allow us to draw together cutting edge research tools and expertise to defeat this disease once and for all.’