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Intel Co-Founder Andrew S. Grove Dedicates Portion of His Estate, Up to $40 Million, to Michael J. Fox Foundation
Date:1/10/2008

Founding Gift for "The Grove Circle," Honoring Planned Gift Donors, Reflects Shared Commitment to Transformative Approach

NEW YORK, Jan. 10 /PRNewswire-USNewswire/ --- Andrew S. Grove, co-founder of technology giant Intel and senior advisor to The Michael J. Fox Foundation for Parkinson's Research, announced his intent to bequeath a portion of his estate, up to $40 million, to The Michael J. Fox Foundation. Mr. Grove's gift will establish The Grove Circle, a society to honor those who provide for the Foundation through their wills or other planned gifts.

"Andy Grove's gift is not only an incredible vote of confidence in MJFF, but will also have a dramatic impact on MJFF's ability to fund paradigm-shifting PD research," said Katie Hood, CEO of The Michael J. Fox Foundation. "Andy's generosity, and his leadership in establishing The Grove Circle for planned gifts, will further strengthen our longtime partnership in pursuing our common goal -- to do whatever it takes, including driving change of a flawed system, to speed delivery of transformative treatments and a cure for Parkinson's disease."

"Despite decades of research, we have no known cure for any neurodegenerative disease today," said Mr. Grove. "Coming up with new treatments may require creative and even unorthodox approaches. Every interaction I've had with The Michael J. Fox Foundation over the years has demonstrated their willingness to go where others may hesitate. There is no one I trust more than the Foundation's leadership and staff to direct my contribution effectively."

Mr. Grove specifically pointed to the Foundation's progress in building an in-house scientific team that actively injects itself into the research process, drives collaboration between academic and industry researchers and, increasingly, targets funding to identify and advance the most promising therapeutic targets for PD.

Mr. Grove has worked with MJFF's leadership since May 2001. He
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SOURCE Michael J. Fox Foundation
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