Letter from the Chair
Dear Friends,
Thanks to all of you, 2023 was another record-breaking year for Cure Alzheimer’s Fund.
We funded more projects (114) and investigators (147) than ever before and achieved a new high total for our research program of just more than $27.8 million. We also set ourselves up to surpass $200 million in research spending since inception in 2024. What a wonderful way to enter our 20th year of funding research to solve the mysteries of Alzheimer’s science and accelerate progress toward treatments and a cure.
I am so grateful for the successes of 2023, particularly because it was also a year of change for the organization.
On Sept. 2, 2023, Jeffrey L. Morby, who founded our organization in 2004 along with his wife and CureAlz Board member Jacqui, passed away. Jeff was a visionary, a successful businessman, a philanthropist, a loving husband and father, and a dear friend. He was passionate about eliminating Alzheimer’s disease and improving the lives of millions of people, always deeply engaging with the science we fund and challenging our scientists to answer the toughest questions. Jeff was a founding Board member, serving as Chairman since inception and my Co-Chair since May 2016. His presence and guidance are truly missed. We mourn Jeff’s loss and are determined to further his legacy of pursuing the vital answers to the mysteries of Alzheimer’s disease.
To honor Jeff’s memory, the Board of Directors of Cure Alzheimer’s Fund has established the Jeffrey L. Morby Prize. This annual prize, which has not yet been awarded as our annual report goes to press, recognizes the key authors of a recent CureAlz-supported research publication that, in the opinion of leading scientists, transforms our fundamental understanding of Alzheimer’s disease and opens new paths to translate scientific results into effective ways to prevent, diagnose or treat Alzheimer’s disease.
This year, Tim Armour, our founding President and CEO, retired after 18 years with Cure Alzheimer’s Fund. In 2005, Tim accepted the challenge to lead our start-up and our mission as our first CEO. His exceptional commitment and stewardship grew Cure Alzheimer’s Fund into the thriving organization it is today. We are grateful for all that he has done, and that he continues to hold a seat on the Board of Directors.
The Board prioritized selecting a successor to Tim with extensive knowledge of the science of Alzheimer’s. After a thorough search process, utilizing the services of a national executive search firm, it became absolutely clear that the best person to guide our future was already among us. Meg Smith, who has led our research funding program since 2015, became our new CEO on Oct. 1. During Meg’s tenure managing the research program, CureAlz awarded $138 million in research grants—nearly 80% of total distributions since our founding in 2004. She spearheaded this growth while simultaneously ensuring that CureAlz maintained its model of high-rigor, high-accountability scientific decision making by its external community of leading researchers. Previously trained as an attorney and with experience in business consulting, Meg earned tremendous respect within the research community in her role, particularly impressive for a nonscientist. The Board of Directors has complete confidence that Meg’s experience, professionalism, spirit of collaboration and strategic insights will be a catalyst for our continued growth.
This is an incredible amount of change for any organization, and I am proud to say that our small but mighty team remained steadfast in their work and focused on our mission. The transition was smooth, and we finished 2023 with an 8% increase in total fundraising and a 13.6% increase in research outflows from the prior year.
PROGRESS TOWARD A CURE
On July 6, 2023, the U.S. Food and Drug Administration (FDA) granted traditional (full) approval for the drug Leqembi® (the brand name for lecanemab) for Alzheimer’s disease. While Leqembi is only of benefit to those in the early stages of the disease, it should be celebrated as real progress—and the beginning of future treatments for all stages of Alzheimer’s disease.
Since our inception through the end of 2023, 1,177 papers have been authored thanks to CureAlz funding, an indication of just how groundbreaking the extraordinary work we have supported over the last 19 years is. These papers have been cited in turn more than 97,000 times by other scientists in their own publications—validation of our model and intent for our funding to accelerate progress across the entire scientific community.
In 2023, we realized a 7.8x return on our investment into proof-of-concept research from the combined years 2018 to 2021, the latest data available. The total of $64 million in grants provided to researchers from Cure Alzheimer’s Fund in those years resulted in an extraordinary $497 million of follow-on funding from the National Institutes of Health (NIH)/National Institute on Aging (NIA). It is wonderful to see our support of bold bets and novel hypotheses flourish.
Believe you can and you’re halfway there.
—THEODORE ROOSEVELT
IN GRATITUDE
Progress toward finding a cure would not happen without so many believing that a cure is possible. Our shared belief gets us halfway there; our shared action will get us across the finish line.
My deepest gratitude to the many partners of Cure Alzheimer’s Fund during the last 19 years: our incredible researchers who inspire us with their creativity, dedication and spirit of inquiry; our Board of Directors, Trustees and key donors who fund operations so 100% of general donations can go to support our research program; and the amazing CureAlz team that masterfully runs the operation moving us closer to our goal.
And, of course, I am truly grateful for all of you, the more than 73,000 generous donors who have chosen to support research through Cure Alzheimer’s Fund over the last 19 years. I know how personal this fight is for many of you. It is also very personal for me. In January 2023, I lost my wife, Allison, after a 22-year battle with Alzheimer’s. Together, our shared experience and collective determination will propel us across the finish line.
Sincerely,
Henry F. McCance
Chair, Board of Directors