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Prize4Life Foundation Elects New Board Member

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Prize4Life Foundation today announced the election of Keith Powers to its Board of Directors. The mission of Prize4Life is to create breakthroughs in effective ALS/MND (Lou Gehrig's disease) treatments using the leverage of large inducement prizes to attract the best minds to work on ALS/MND. For the last three years, Mr. Powers has been at the forefront of the ever growing "inducement prize industry", first as the EVP of Strategic Development at the X PRIZE Foundation where he spearheaded an effort to create a modern-day version of the Nobel Prize, and then most recently as the co-creator and Chief Operating Officer of Prize Capital, LLC, an innovative financial model at the intersection of invention, investment and philanthropy. I am honored and excited to be working with Prize4Life to foster additional breakthroughs in ALS

Boston, Mass. (PRWEB) June 25, 2007 -- Prize4Life Foundation today announced the election of Keith Powers to its Board of Directors.



The mission of Prize4Life is to create breakthroughs in effective ALS/MND (Lou Gehrig's disease) treatments using the leverage of large inducement prizes to attract the best minds to work on ALS/MND. Prize4Life recently launched a $1 Million ALS/MND Biomarker Challenge and is planning to launch several other multi-million dollar challenges.

"On behalf of Prize4Life, it is my great pleasure to welcome Keith Powers to our Board," said Amy Yamner, Chair of the Board of Prize4Life. "As we take Prize4Life into its next phase in the fight against ALS, Keith brings a wealth of relevant experience and an expertise with inducement prize models and organizational development."

"I am honored and excited to be working with Prize4Life to foster additional breakthroughs in ALS," said Keith Powers. "It is remarkable what the team has been able to accomplish so far with limited resources. They understand the financial leverage of prizes and how to build and operate a first class organization."

For the last three years, Mr. Powers has been at the forefront of the ever growing "inducement prize industry," first as the EVP of Strategic Development at the X PRIZE Foundation where he spearheaded an effort to create a modern-day version of the Nobel Prize, and then most recently as the co-creator and Chief Operating Officer of Prize Capital, LLC, an innovative financial model at the intersection of invention, investment and philanthropy.

A social entrepreneur at heart, Keith has previously started and sold several companies and is familiar with the challenges facing new start-up organizations. He is also a member of the Board at Kids Korps, USA and is a senior advisor to several start-ups including Idea Crossing - creator of the Innovation Challenge.

About Prize4Life:
Prize4Life is 501(c)(3) non-profit organization founded in 2006 by Avichai Kremer, who was diagnosed with ALS in the fall of 2004 during his first semester at Harvard Business School. Inspired by the success of other inducement prizes in stimulating breakthroughs, such as the Orteig Prize, DARPA's Grand Challenge, NASA's Centennial Challenges and the X Prize, Mr. Kremer founded Prize4Life in order to foster breakthrough treatments and to educate the public about ALS/MND. Other members of the Board of Directors include Amy Yamner (Chair), Harvey M. Krueger, Nate Boaz, Dr. Jan Hammond, Dr. Patricia K. Light, and Board fellows Peter Bowen, Allison Kotzin, and Harpreet Singh. Individual accomplishments and biographies can be found on the Prize4Life website Prize4Life.org.