(CNN) – David Julius and Erdem Patbutian were awarded the Nobel Prize in Physiology or Medicine “for their discoveries of temperature and touch receptors.”

This award is one of the most coveted global awards and grants entry to one of the most prestigious clubs in the world.

“The fundamental discoveries of this year’s Nobel Laureates in physiology or medicine have demonstrated how heat, cold and touch can trigger signals in our nervous system. The ion channels identified are important for many physiological processes and diseases,” the Nobel Society said in a press release Monday.

Nobel history

In 1895, Alfred Nobel, the inventor of dynamite, created a fund that would give most of his fortune to those who serve humanity.

Today, Nobel laureates recognize outstanding achievements in the fields of physics, chemistry, medicine, literature, peace, and economics.

Between 1901 and 2019, nearly 600 prizes were awarded.

Nobel’s will stated that part of his money would go to “the person who has made the most important discovery in the field of physiology or medicine.”

What will happen

The Nobel Prizes in Medicine, Physics, and Chemistry are the pinnacle of scientific achievement, honoring great minds and life-changing discoveries.

The last two will be announced on Tuesday and Wednesday, respectively, followed by the Nobel Prize in Literature on Thursday, the Peace Prize on Friday, and the Economic Sciences Prize on Monday.