Michelson Prize Application Process - Step 3
Step 3: Prize Study
3.1) Found Animals will then complete a plan for the Prize Study design, in consultation with the applicant, based on the requirements for Data Package-2. Found Animals and its advisors, consulting with a Contract Research Organization (CRO), will approve or revise the study design.
3.2) Upon approval of the design, a study will be contracted to a Good Laboratory Practices (GLP) compliant CRO and will be funded by Found Animals.
3.3) Upon completion of the Prize Study, Found Animals and the Scientific Advisory Board reviewers will assess Data Package-2 to determine whether all Prize criteria have been met. Possible outcomes are:
- Prize criteria are not met: Applicant must wait at least 60 days before resubmitting Data Package-1 with an improved or different product.
- Prize criteria are met and another contender or contenders has/have an earlier Date Stamp: Michelson Prize is not awarded until the project(s) with the earlier Date Stamp has/have failed or succeeded. If a project with an earlier Date Stamp later succeeds, the Michelson Prize will be awarded to the applicant with the earlier Date Stamp, regardless of when the Prize studies were completed.
- All Prize criteria are met and the applicant’s Date Stamp is first: The Michelson Prize is awarded.
Found Animals is committed to sponsoring the Michelson Prize in fairness and with transparency. In accordance with this principle, it reserves the right to modify the terms and conditions of the Michelson Prize if necessary, and endeavors to provide Participants as much notice as possible of any necessary modifications.