Orion to receive an Innovation Award

The Chemical Industry Federation of Finland has granted its 2014 Innovation Award to Orion for developing a medical treatment for the symptoms of Alzheimer’s disease.

The Innovation Award was established to encourage research and product development teams of companies, universities and research institutes to develop new chemical products and services. The 2014 competition hit a record number of applicants. The quality of applicants was also high.

“Innovation Award winners are excellent examples of Finnish high-tech knowhow and the fact that a lot of new ground is broken and many good things are happening in Finland. The winners represent the chemical industry at its best – inventions and innovations which promote well-being and improve the society,” said Timo Leppä, director general of The Chemical Industry Federation of Finland.

New medical treatment for the neuropsychiatric symptoms of Alzheimer’s disease

As the population grows older, the disorders related to Alzheimer’s disease becomes an increasingly significant problem. Orion has invented a medical treatment which utilises a completely new set of mechanisms to combat the symptoms of the disease. After synthesis and extensive studies, the new treatment is currently in clinical development. Further development is carried out in co-operation with Janssen Pharmaceuticals, part of Johnson&Johnson.

In addition to Orion, PerkinElmer Finland was awarded for developing a method for screening immunodeficiency in newborns. The companies received an equal share of the 20,000 euro award at the association's 15 April 2014 Theme Forum.

Read more on the Chemical Industry Federation of Finland's press release.

Photograph: Matti Matikainen