Psychiatric care could improve in the future thanks to a new push to improve the amount of research that is carried out on the disease.
The PharmaCog consortium is part of the EU's Innovative Medicines Initiative and is initially funded for five years with over £23 million and exists to facilitate the advancement of new Alzheimer's disease drugs.
Global pharmaceutical companies such as GlaxoSmithKline, AstraZeneca and Eli Lilly are key part of the initiative which also includes 14 academic establishments across Europe.
Dr Simon Ridley, head of research at Alzheimer's Research UK, stated that the disease was a major problem in the UK, with 500,000 sufferers living with symptoms in the country, but until now little funding has been made available to develop more effective drugs.
"Initiatives such as PharmaCog, which promote collaboration across countries and research sectors, could provide an excellent way for progress to be made in developing new treatments to tackle this devastating disease," he added.