An Australian university has been commissioned by the US-based National Institutes of Health to investigate aspirin's anti-dementia powers, local media reported on Monday.

Dementia, where a person's cognitive mind, function and memory dissolves, is one of the biggest medical challenges for elderly people.

Monash University in Melbourne has begun a 50 million Australian dollar ($41 million) trial called ASPirin in Reducing Events in the Elderly (ASPREE), Xinhua reported.

It is a joint study with the Berman Center for Outcomes and Clinical Research in Minneapolis in the US and involves more than 19,000 Australian patients in the trial.

Aspirin's properties revolve around its ability to stop blood platelets clumping together, reducing the risk of heart attacks and strokes.

But its active ingredient is salicin, which has an anti-inflammatory effect and is derived from willow trees.