David Stamler as Chief Medical Officer to Lead Clinical Development

David Stamler as Chief Medical Officer to Lead Clinical Development

MELBOURNE, AUSTRALIA. 5 June 2017: David

Stamler, M.D., has joined Prana Biotechnology (ASX PBT, NASDAQ PRAN) as Chief Medical Officer and Senior Vice President, Clinical

Development, based in San Francisco. Prior to joining Prana, Dr. Stamler worked for Teva Pharmaceuticals (NYSE TEVA), as part of

Teva's US$3.5 billion acquisition of Auspex Pharmaceuticals. Dr. Stamler led the development of a new drug for the treatment

of Huntington's disease, which was approved by the U.S. Food and Drug Administration (FDA) in April this year. This was the

second neurological agent that Dr. Stamler has led through the approval process with the FDA.

Dr. Stamler's appointment follows a detailed

review of the pharmaceutical assets and strategy at Prana over the last 6 months and marks a refocus on prioritising PBT434 for

the treatment of parkinsonian movement disorders. PBT434 is a first-in-class therapy planned to enter Phase 1 clinical trials later

parallel, the company is exploring new options for PBT2 and building its pipeline of drug candidates from Prana's proprietary

library for neurodegenerative diseases and other therapeutic fields that may potentially benefit from Prana's compounds .

Prana's Executive Chairman and CEO, Geoffrey

Kempler, noted: "Dr. Stamler is a seasoned and talented drug developer who brings more than 20 years of central nervous system

(CNS) development experience and a deep understanding of the regulatory environment. We are very pleased that he has chosen to

work with Prana and advance our portfolio of drugs for neurodegenerative diseases."

In commenting on his appointment, Dr. Stamler

said: "There is a great need for new treatments for neurodegenerative diseases. Prana's approach, along with their

extensive chemical library and experience in translational research, make them ideally positioned to advance the field. Progressing

PBT434 into the clinic will be very exciting, as it has demonstrated substantial functional improvements and impressive neuroprotective

properties in numerous animal models. I am thrilled to be joining Prana to help bring new agents such as PBT434 to the clinic and,

hopefully, to patients in need."

Dr. Stamler comes from Teva as VP, Clinical

Development and Therapeutic Head, Movement Disorders where he was responsible for clinical-regulatory interactions leading to the

approval of AUSTEDOTM (deutetrabenazine) for treatment of chorea associated with Huntington's disease in 2017.

Prior to Teva, Dr. Stamler was Chief Medical

Officer at Auspex Pharmaceuticals, Inc. (which was acquired by Teva in 2015) and prior to this he served as Chief Medical Officer

and Senior Vice President of Xenoport, Inc. where he led clinical development activities for their portfolio of CNS compounds.

About Prana Biotechnology Limited

Prana Biotechnology was established to commercialise

research into Alzheimer's disease, Huntington disease and other major age-related neurodegenerative disorders. The Company was

incorporated in 1997 and listed on the Australian Stock 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 www.pranabio.com.

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" and

"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.