After almost a year since data submission to the FDA, US biotech firm Biogen is in the final stages of review to obtain FDA approval for its breakthrough drug aducanumab, targeted at reducing cognitive decline in Alzheimer's patients.

This is significant because to date there is no cure for Alzheimer's - a condition that accounts for almost 70% of all dementia cases, affecting about 35 million people worldwide. The only medicines available can only temporarily reduce symptoms but not prevent or reverse the course of the disease. Research has been ongoing in this field but progress has been slow. 

A glimmer of hope appeared last week when FDA scientists revealed that aducanumab's Phase 3 clinical trial data were 'robust and exceptionally persuasive'. However, this hope was dealt a heavy blow, when an expert panel to the FDA voted against the medicine this week, citing insufficient evidence as the reason.

Despite approval chances looking slim, some analysts still believe there is a "good chance the FDA will approve this product anyway". And if successful, aducanumab will be the first approved Alzheimer's treatment that could change the progression of the disease and not just the symptoms. This will no doubt bring hope to the millions of patients and their caregivers.