The application was created in conjunction with Stanford University and allowed researchers to use connected PS3's to further their understanding of protein folding, misfolding and causes of a variety of diseases such as such as Parkinson's, Alzheimer's and cancer.
According to Sony over 15 million users have participated in the initiative since it launched in 2007, donating over 100 million computation hours to the project.
"The PS3 system was a game changer for Folding@home, as it opened the door for new methods and new processors, eventually also leading to the use of GPUs," said Stanford University's Vijay Pande.
"We have had numerous successes in recent years. Specifically, in a paper just published in the Journal of Medicinal Chemistry, we report on tests of predictions from earlier Folding@home simulations, and how these predictions have led to a new strategy to fight Alzheimer's disease.
"The next steps, now underway at Stanford, are to take this lead compound and help push it towards a viable drug. It's too early to report on our preliminary results there, but I'm very excited that the directions set out in this paper do appear to be bearing fruit in terms of a viable drug (not just a drug candidate)."
The roll-out of the new PlayStation Store has been postponed in the US and other territories following its troubled launch in Europe and the UK.