$25 Million Pledged Toward XPRIZE to Find a Cure for Alzheimer's

$25 Million Pledged Toward XPRIZE to Find a Cure for Alzheimer's

has announced that its founders, Ric and Jean Edelman, have pledged $25 million toward an XPRIZE competition aimed at creating new approaches to the detection, treatment, and, ultimately, a cure for Alzheimer's disease.

The concept of a competition focused on Alzheimer's, one of five proposals considered at the XPRIZE Visioneers Summit earlier this month, received the highest evaluation score and advanced as a top priority for a possible 2018 XPRIZE competition. The $25 million from the Edelmans will fund a pre-launch design and analysis phase, a multimillion-dollar prize, and  research, infrastructure, and operational support for competing teams.

The Edelmans have been working with the led by founder and CEO Ken Dychtwald to help develop an XPRIZE competition, which would crowdsource solutions globally for the detection and diagnosis of the disease. According to Edelman Financial, the idea of an XPPRIZE focused on Alzheimer's was conceived in 2012 by Dychtwald and founder Peter Diamandis. Since then, more than a hundred leading neuroscientists, advocates, and exponential technology experts have contributed to the effort.

"Jean and I are honored to offer this vital funding to encourage innovative approaches to defeat Alzheimer's," said Ric Edelman. "We have seen firsthand the devastating impact of this dreadful disease on so many of our firm's clients, and we are thrilled at the opportunity to support the XPRIZE Foundation and the Alzheimer's Disease Team so we can start working on new ways to detect, diagnose, and ultimately eradicate Alzheimer's disease."

(Photo credit: XPRIZE Foundation)