Prana Completes Recruitment in Alzheimer's Trial

Prana Completes Recruitment in Alzheimer's Trial 
12 Month Phase II Study With PBT2 in Early Alzheimer's Patients 
MELBOURNE, AUSTRALIA -- (Marketwire) -- 11/27/12 --   Prana
Biotechnology (NASDAQ: PRAN) (ASX: PBT) 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
The double-blind placebo controlled trial has enrolled 41 patients
with prodromal or mild Alzheimer's Disease in Melbourne, Australia.
One additional patient may be included in the trial, subject to final
screening procedures this week. All trial participants are undergoing
brain scans to measure PBT2's effect on amyloid deposits in the brain
(using PiB-PET scanning) and effects on increasing brain activity
(F-FDG PET). Cognition effects are being measured by the
Neuropsychological Test Battery (NTB), a test that measures the type
of cognitive problems experienced by prodromal and early Alzheimer's
In an earlier 12 week Alzheimer's Disease trial, PBT2 significantly
reduced the level of Abeta protein in the spinal fluid of treated
patients as well as significantly improving their cognitive Executive
"We expect that the current 12 month IMAGINE trial will provide
further evidence of PBT2's ability to have a positive effect in the
brain and help Alzheimer's patients," said Prana's Executive
Chairman, Mr. Geoffrey Kempler.  
The scientific data supporting the belief that PBT2 will bring
meaningful clinical benefit to patients is extensive. PBT2 restores
neuronal health by selectively binding and redistributing brain
metals (copper, zinc) that have become imbalanced due to disease or
the ageing process. Furthermore PBT2 is able to prevent Abeta protein
induced toxicity and promote its disaggregation in the brain.  
The trial has received funding from the Alzheimer's Drug Discovery
Foundation (ADDF). Howard Fillit, MD, the ADDF's Executive Director,
commented that "PBT2 stands out as one of the few remaining orally
available agents with clinical trial evidence of cognitive benefit
for Alzheimer's patients. Success in this trial will demonstrate
target engagement by PBT2 in the brains of people with Alzheimer's
Disease, and accelerate the clinical developme
nt of PBT2 to
Alzheimer's Disease and dementia affects over 26 million people
worldwide. The cost to society has been reported as $600 billion per
annum. Currently all available treatments are approved to provide
some degree of symptomatic relief. None change the course of the
disease and the eventual decline in patient's cognition and health.
PBT2 has the potential to be an effective treatment for Alzheimer's
Disease that is supported by an extensive body of scientific and
clinical work.  
1. Lannfelt et al. "Safety, Efficacy, and biomarker findings of PBT2
in targeting Abeta modifying therapy for Alzheimer's disease: a
controlled phase IIa, double-blind, randomized, placebo-controlled
trial," Lancet Neurology (2008) vol. 7, pp. 779-86. 
2. Lannfelt et al. Errata: Lancet Neurology (2009) vol. 8, pp. 981. 
3. Faux et al "PBT2 Rapidly Improves Cognition in Alzheimer's
Disease: Additional Phase II Analyses," Journal of Alzheimer's
Disease (2010) vol. 20 pp. 509-516 
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 
About the Alzheimer's Drug Discovery Foundation 
 The Alzheimer's
Drug Discovery Foundation (ADDF) is the only non-profit organization
whose sole mission is to accelerate the discovery and development of
drugs to prevent, treat and cure Alzheimer's Disease, related
dementias and cognitive aging. Since 1998, the ADDF has granted more
than $50 million to fund over 325 Alzheimer's drug discovery programs
in academic centers and biotechnology companies in 18 countries. For
more information about the Foundation, please visit  
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. 
Prana Biotechnology Ltd
T: +61 3 93494906
US - Investor Relations
Leslie Wolf-Creutzfeldt
T: 646-284-9472
US - Media
Ivette Almeida
T: 646-284-9455
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