The Howard Hughes Medical Institute is one of the world's largest private agencies that deals with philanthropies. It announced on Wednesday that it would spend $600 million for inovative medical research in various fields. The group stated that their investment would focus on high-risk areas of research, where there is little chance of success, but where an eventual achievement determines a remarkable progress of that certain field.

The Chevy Chase-based nonprofit organization last offered awards in 2005 to fifteen scientists. Only scientists who are initiating research in up-to-date fields are taken into consideration as regards eventual receivers of the awards. The amount of money that would be allocated this year has been increased, as well as the number of awarded persons.

There were 1,000 applications this year, out of which fifty-six specialists were chosen. They activate under the patronage of thirty-one universities and research institutions, including John Hopkins University in Baltimore and Cincinnati Children's Hospital Medical center. The research is on topics ranging from the effects global warming has on pandemics of infectious diseases to the link between aging and neurological decline. After they have received this award, scientists will go on working at the institutions, but in the same time they will be employees of the Hughes Institute.

The Howard Hughes Medical Institute was founded in 1953 by Howard Hughes, the late aviator, engineer and film producer and it has been funding research since 1976. It has invested more than $8,3 billion in scientists since it initiated its activity.