Prana Provides Huntington Disease Trial Update in Conjunction

Prana Provides Huntington Disease Trial Update in Conjunction With
the Huntington Study Group Annual Conference 
MELBOURNE, AUSTRALIA -- (Marketwire) -- 11/14/12 --   Prana
Biotechnology (NASDAQ: PRAN) (ASX: PBT) 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. 
The Reach2HD trial is a Phase IIa, 6 month trial in 100 patients with
early to mid-stage Huntington disease that are treated with one of
two doses of PBT2 or placebo. Enrollment commenced in April 2012
following approval from the FDA to conduct the trial across sites in
the USA and Australia. All twenty Reach2HD sites are open and
recruiting. Based on current recruitment activity, it is expected
that over 80% of patients will be in dosing by the end of this month
in line with Prana's recruitment completion target at the end of the
year and reporting of results in 2H13.  
During the presentation, Ms Angus noted that PBT2 has a unique
therapeutic action because of its specialized ability to prevent the
toxic relationship between disease proteins and biological metals in
the brain. Of special relevance to Huntington disease, PBT2 has been
shown in animal modeling that it can reduce the aggregation of a
mutant form of the Huntingtin protein that is associated with the
disease, improve motor function, preserve neuronal tissue and
significantly improve life expectancy*. Moreover PBT2 has
demonstrated a significant ability to improve cognitive Executive
Function ("thinking ability") in a Phase IIa study in Alzheimer's
disease**. Based on the breadth of pre-clinical and clinical data to
date, Prana's Reach2HD trial has been designed to investigate safety
and tolerability of PBT2 in Huntington disease patients and to
measure potential cognitive, functional and motor benefits in
patients and also explore mechanistic biomarker readouts.  
"There is mounting evidence that compounds that can restore metal
homeostasis in the neuron can stop and even reverse cognitive decline
associated with neurodegenerative diseases. We think Prana's PBT2
could be such a compound," said New York based MLV & Co. Equity
Research, Senior Biotech Analyst George Z
avoico, Ph.D.  
"The first patient has already completed the 6 month treatment period
and no patients have withdrawn from the trial for any safety or other
reasons, so we are very pleased with our progress to date. The Data
Safety Monitoring Board will report again next February," said Mr
Kempler, Prana's Chairman and CEO. 
Huntington disease is a complex and severely debilitating genetic,
neurodegenerative disease, for which there is no cure. The disease
often affects young adults and, whilst associated with severe
physical movement symptoms, it progressively impacts the mind and
emotions as well. The disease causes incapacitation and death about
15-25 years after onset. The disease affects over 30,000 people in
the US and about 70,000 worldwide.  
There is only one marketed drug for Huntington disease, with limited
utility and notably there are no drugs either available or in
development that have established clinical evidence for treating the
cognitive decline associated with Huntington disease.  
* Manuscript in preparation
 **PBT2 has completed a Phase IIa trial
in Alzheimer's patients and significantly improved the Executive
Function of patients treated with the drug. Executive Function is an
integrated set of cognitive abilities, including thinking
flexibility, concept formation, and self-monitoring. Executive
Function has overarching control of cognitive processes needed for
organizing, strategizing, problem solving, verbal reasoning and
multi-tasking. Loss of Executive Function is the main cognitive loss
experienced by those with Huntington disease.  
About Prana Biotechnology Limited
 Prana Biotechnology was
established to commercialize research into 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
www.pranabio.com. 
About Huntington disease
 Huntington disease is a complex and
severely debilitating genetic, neurodegenerative disease, for which
there is no cure. The disease often affects young adults and, whilst
associated with severe physical movement symptoms, progressively
impacts the mind and emotions as well. The disease causes
incapacitation and death about 15-25 years after onset. The disease
affects 30,000 people in the US and about 70,000 worldwide. There are
no drugs in development that have established clinical evidence for
treating cognitive decline. 
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. 
Contacts:
Australia
Prana Biotechnology
+61 3 9349 4906 
US
Leslie Wolf-Creutzfeldt
T: 646-284-9472
E: leslie.wolf-creutzfeldt@grayling.com 
Media:
Ivette Almeida
T: 646-284-9455
E: Ivette.almeida@grayling.com