Founding sponsors of the Breakthrough Prize include Mr Brin, Ms Wojcicki, Mr Zuckerberg, Ms Chan and Mr Milner, who collectively have agreed to establish five annual prizes of $3 million each. Mr Levinson will serve as the chairman of the board of the foundation, while additional directors will include Ms Wojcicki, Mr Zuckerberg and Mr Milner .

Mr Levinson said that, "I am delighted to announce the launch of the Breakthrough Prize in Life Sciences and welcome its first recipients. I believe this new prize will shine a light on the extraordinary achievements of the outstanding minds in the field of life sciences, enhance medical innovation, and ultimately become a platform for recognizing future discoveries. I also want to thank our founding sponsors, Sergey Brin , Anne Wojcicki , Mark Zuckerberg, Priscilla Chan and Yuri Milner. Without their contribution, this prize would not have been possible."

Ms Wojcicki said that, "We are thrilled to support scientists who think big, take risks and have made a significant impact on our lives. These scientists should be household names and heros in society." Mr Brin said that, "Curing a disease should be worth more than a touchdown." Mr Zuckerberg, "Priscilla and I are honored to be part of this. We believe that Breakthrough Prize in Life Sciences has the potential to provide a platform for other models of philanthropy, so people everywhere have an opportunity at a better future." Mr Milner said that, "Solving the enormous complexity of human diseases calls for a much bigger effort compared to fundamental physics and therefore requires multiple sponsors to reward outstanding achievements."