Philanthropist's funds nation's largest medical prize

(Albany-AP) -- An 89-year-old New York City philanthropist launches the largest prize in American medical research history today. <br><br>Morris Silverman's 50 (M) million dollar gift will be given

Thursday, November 16th 2000, 12:00 am

By: News On 6

(Albany-AP) -- An 89-year-old New York City philanthropist launches the largest prize in American medical research history today.

Morris Silverman's 50 (M) million dollar gift will be given in 500-thousand dollar prizes for each of the next 100 years, starting next year. The Albany Medical Center Prize in Medicine and Biomedical Research will be available to researchers from around the nation and world.

It is believed to be the single largest award to a medical institution in history.

Silverman, a frequent benefactor to area institutions, was inspired by an international humanitarian aid group called Doctors Without Borders. The group won the Nobel Prize in 19-99. Silverman says he wanted to create an American equivalent of the famous prize.