SOURCE: Prana Biotechnology

Prana Biotechnology

June 28, 2011 11:00 ET

Prana's PBT2 Presented at the Huntington's Disease Society of America National Convention

MELBOURNE, AUSTRALIA--(Marketwire - Jun 28, 2011) - Prana Biotechnology (NASDAQ: PRAN) (ASX: PBT) today announced that information on PBT2 for the treatment of HD was presented at the HDSA annual National Convention held in Minneapolis, Minnesota over the weekend. Dr Steve Hersch, Associate Professor of Neurology at MGH and Harvard Medical School, and Director of the Huntington's Disease Center of Excellence and the Laboratory of Neurodegeneration and Neurotherapeutics presented* scientific and clinical information on PBT2 and Prana's development plans in Huntington's Disease (HD).

"We are delighted to have the opportunity to introduce Prana and the scientific strategy behind PBT2 to the broader HD community," commented Geoffrey Kempler, Prana's Executive Chairman. "We are hopeful that PBT2 can bring the same cognitive benefits to HD patients that it did to Alzheimer's Disease (AD) patients in a Phase IIa trial."

What benefits has PBT2 already shown

In a Phase IIa trial** of PBT2 in mild AD, cognitive executive function was significantly improved in patients. Recently the company published that PBT2 was able to directly restore neurons critical to cognition in mouse models. In particular it was demonstrated that PBT2 increased the number of spines on the branches (or dendrites) of neurons, an important means of permitting many more neurons to interconnect with any particular neuron thereby increasing the brain's capacity to carry out learning and memory functions.

These findings pointing to the ability of PBT2 to restore cognition in degenerative conditions, together with positive data achieved with PBT2 in mouse models of HD*** provide confidence that PBT2 will be able to confer cognitive benefit to patients with HD and AD.

Plans for a Phase II study in HD patients.

Prana is progressing its plans for a Phase II placebo controlled double blind study in 100 mild HD patients, in Australia and the US, treated over 6 months this year. The study will investigate a number of key parameters including cognitive, motor and functional changes over the study duration. In parallel, as previously announced, Prana is progressing plans for a 12 month Phase II brain imaging study in 40 mild AD patients in Australia.

* The HDSA presentation will be posted on Prana's website by the end of this week,
** Lannfelt et al. Lancet Neurology (2008) vol. 7, pp. 779-86; Lannfelt et al. Lancet Neurology (2009) vol. 8, pp. 981. Faux et al. J. Alzheimer's Disease 20 (2010) pp. 509-516
***Presented at the International Conference on Alzheimer's Disease, Honolulu Hawaii, 2010.

About Prana Biotechnology Limited

Prana Biotechnology was established to commercialise research into Alzheimer's Disease, Huntington's Disease and other major age-related neurodegenerative disorders. The Company was incorporated in 1997 and listed on the Australian Securities Exchange in March 2000 and listed on NASDAQ in September 2002. Researchers at prominent international institutions including The University of Melbourne, The Mental Health Research Institute (Melbourne) and Massachusetts General Hospital, a teaching hospital of Harvard Medical School, contributed to the discovery of Prana's technology.

For further information, please visit the Company's web site at

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934. The Company has tried to identify such forward-looking statements by use of such words as "expects," "intends," "hopes," "anticipates," "believes," "could," "may," "evidences," "estimates," and other similar expressions, but these words are not the exclusive means of identifying such statements. Such statements include, but are not limited to any statements relating to the Company's drug development program, including, but not limited to the initiation, progress and outcomes of clinical trials of the Company's drug development program, including, but not limited to, PBT2, and any other statements that are not historical facts. Such statements involve risks and uncertainties, including, but not limited to, those risks and uncertainties relating to the difficulties or delays in financing, development, testing, regulatory approval, production and marketing of the Company's drug components, including, but not limited to, PBT2, the ability of the Company to procure additional future sources of financing, unexpected adverse side effects or inadequate therapeutic efficacy of the Company's drug compounds, including, but not limited to, PBT2, that could slow or prevent products coming to market, the uncertainty of patent protection for the Company's intellectual property or trade secrets, including, but not limited to, the intellectual property relating to PBT2, and other risks detailed from time to time in the filings the Company makes with Securities and Exchange Commission including its annual reports on Form 20-F and its reports on Form 6-K. Such statements are based on management's current expectations, but actual results may differ materially due to various factions including those risks and uncertainties mentioned or referred to in this press release. Accordingly, you should not rely on those forward-looking statements as a prediction of actual future results.

Contact Information

  • Contacts:
    Prana Biotechnology Limited
    +61 3 9349 4906

    Leslie Wolf-Creutzfeldt