Prana's PBT2 drug recognised as one of the most promising treatments under development

Prana Biotechnology (ASX:PBT / NASDAQ:PRAN), a leading global developer of first-in-class treatments for neurodegenerative disease, is pleased to announce Elsevier Business Intelligence has named clinical drug PBT2 as one of the Top 10 Neuroscience Projects to Watch.

Prana is developing PBT2 as a treatment for Huntington’s and Alzheimer’s disease.

The top 10 list is selected by an independent panel each year to highlight compounds which address a large, unmet market, strong science and a diversity of indications. Other criteria include the potential for new opportunities beyond initial indications, multi-level partnering opportunities and a strong company behind the compound.

Companies selected in the Top 10 Neuroscience Projects to Watch were screened against strict criteria and are considered the most attractive neuroscience opportunities in the industry. Past Top 10 candidates have signed $US17 billion in potential acquisitions and alliances including Vectura, AVEO, Trophos, BiPar, Myogen, Sirtris and Kosan.

Prana will present the latest research on PBT2 to more than 250 guests at Windhover’s Therapeutic Area Partnerships meeting on November 18-20, 2013 at the Hyatt Regency in Boston, USA.

“We are very pleased to have PBT2 recognised as one of the most promising treatments under development,” said Prana’s Chairman and CEO Mr Geoffrey Kempler.

“There currently exists very limited treatment options for Huntington’s disease, which affects about 30,000 in the US and 1200 people in Australia. Current treatment options for Alzheimer’s disease are also limited and focus on the symptoms of the disease rather than the cause.”

In July, Prana completed Reach2HD, a Phase II clinical trial investigating PBT2 as a treatment for Huntington’s disease, and is expected to release results in October 2013.

Results from the Phase II IMAGINE trial of PBT2 in patients suffering Alzheimer’s disease are expected to be announced in March 2013.

Data from an earlier trial on PBT2 has been published in Lancet Neurology and Journal of Alzheimer’s Disease, showing PBT2 significantly changed Abeta levels in spinal fluid and significantly improved the cognition of Alzheimer’s disease patients.

Source: http://www.pranabio.com/