The prizewinners must be conducting research at a Danish research institution at the time of the award. A talent prize is worth DKK 300,000. DKK 100,000 of this amount is a personal honorary award, while DKK 200,000 is earmarked for the prizewinner’s research. The Lundbeck Foundation's Grants & Prizes Committee reviews the nominations and then recommends three candidates to the Foundation's board of directors.