Full Press Release Details
Announces Completion of Phase IIa Trial of PBT2 in Alzheimer's Disease Patients
Results expected to be submitted in first quarter 2008 -
Australia - January 2, 2008 - Prana Biotechnology Limited (NASDAQ: PRAN / ASX:
biopharmaceutical company focused on the research and development of treatments
for neurodegenerative disorders, today announced it has completed its Phase
clinical trial of PBT2 in patients with early Alzheimer's disease.
patients have completed their final clinical assessment. The data are being
analysed, and results will be delivered in the first quarter of 2008.
Kempler, Chairman and CEO of Prana Biotechnology, said, "The completion of the
Phase IIa trial for PBT2 represents a significant milestone in the development
of Prana's innovative therapeutic platform for Alzheimer's Disease, and other
neurodegenerative diseases."
Phase IIa trial is a double blind, placebo-controlled study exploring the safety
and tolerability of PBT2, Prana's proprietary lead compound. The trial also
measured PBT2's effects on the mechanism and progression of the disease, by
investigating biomarkers of Alzheimer's Disease, as well as measures of
Prana Biotechnology Limited
Biotechnology was established to commercialise research into Alzheimer's disease
and other major age-related neurodegenerative disorders. The
company was incorporated in 1997 and listed on the Australian Stock Exchange
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, discovered Prana's technology.
further information, please visit our web site at www.pranabio.com.
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,
not limited to, PBT2, that could slow or prevent products coming to market,
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
From 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.
Biotechnology Limited