Prana Biotechnology today reported on its progress in its Phase II clinical trials with its lead development asset PBT2. PBT2 has a unique therapeutic action that can benefit people suffering neurodegenerative disease because of its specialized ability to prevent the toxic relationship between disease proteins and biological metals in the brain.

Prana Biotechnology Limited, announced today that its lead compound in development for Parkinson’s disease (PD), PBT434, had progressed successfully through a series of preclinical development studies used to assess the suitability of a candidate compound for human clinical studies. The studies were funded by The Michael J. Fox Foundation (MJFF) 2011 Pipeline Program to support its ‘Therapeutic Development Initiative’. The MJFF Program grant is milestone based. PBT434 achieved all of its milestones in preclinical toxicology studies, genotoxicity and safety pharmacology - allowing the compound to be positioned for larger scale animal toxicology studies prior to commencing clinical trials.

Prana Biotechnology today provided highlights and excerpts from the panel discussion entitled, ‘Alzheimer’s and Other Issues of Aging’ which took place on Sunday, September 9th at the Celebration of Science Conference in Washington, D.C. Freda Lewis-Hall, Executive Vice President and Chief Medical Officer of Pfizer moderated the panel. The Celebration of Science gathered over 1,000 leaders from the scientific, government, industry, philanthropic and academic communities to honor the tremendous accomplishments of science and to discuss promising possibilities for future breakthroughs.

Prana Biotechnology today reported that it had received a recommendation from the Data Safety Monitoring Board (DSMB) that the IMAGINE trial for Alzheimer’s disease should continue as planned based on the initial review of clinical data. The DSMB is an independent group of experts who review the accumulated safety data in ongoing clinical trials, in order to safeguard the interests and safety of participating and future patients. The DSMB considers study-specific data as well as relevant background knowledge about the disease, test agent, or patient population under study.

Prana Biotechnology today reported that it had been cited in an interview in The Life Sciences Report with George Zavoico, Ph.D., senior equity analyst and managing director with MLV & Co., as the only drug company to address in clinical trials the control of transition metal levels in neuronal synapses, a key event in age-related dysfunction of the brain. The Report citing Prana is titled, “Seven Innovative Biotechs That Could Soar By Year- End”.*

Prana Biotechnology today announced that Chief Scientific Advisor, Rudy Tanzi, Joseph P. and Rose F. Kennedy Professor of Neurology, Harvard Medical School will take part in a webcast hosted by George Zavoico, Ph.D., Managing Director and Senior Analyst, of MLV & Co. The topic of the webcast will be: “Alzheimer’s Disease Therapeutics: Recent Setbacks and Emerging Alternatives.” The webcast will take place on Monday, October 1, at 2:00 pm Eastern Daylight Time (NYC).

Prana Biotechnology Limited today announced that it has raised A$6.0 million (approx.) through a placement of 32,500,000 ordinary fully paid shares (equivalent to 3.25 million Nasdaq listed ADRs) at a price of A$0.185 per share. The placement attracted strong demand even though the amount raised was restricted by the number of shares which could be issued by the Company under ASX listing rule 7.1, thereby not requiring a separate meeting of shareholders.

Prana Biotechnology today reported on its progress in the Reach2HD trial, following a presentation by the Ms Dianne Angus, Prana’s Chief Operating Officer, at the Huntington Study Group Annual Conference held in Seattle this past weekend.

Prana Biotechnology today announced that the New York Academy of Science is hosting a symposium on November 29th titled “Targeting Metals in Alzheimer’s and Other Neurodegenerative Diseases”. Dr. Rudy Tanzi, the Joseph P. and Rose F. Kennedy Professor of Neurology at Harvard University and Prana’s Chief Scientific Advisor, and Dr. Robert Cherny. Prana’s Head of Research, will take part in the symposium.

Prana Biotechnology today announced that it has completed recruitment in the IMAGINE trial, a 12 month Phase II trial testing PBT2, the Company’s drug in development for Alzheimer’s Disease.