PRANA Biotechnology's Planned Huntington's Trial Receives Strong Interest from Patients and Researchers

MELBOURNE, AUSTRALIA--(Marketwire - September 15, 2011) - Prana Biotechnology Limited (NASDAQ: PRAN) (ASX: PBT) received a very positive reaction from international patient groups and researchers at this week's World Congress on Huntington's Disease in Melbourne. The company had a major presence at the Congress and the Prana team has held numerous meetings and conversations with patient groups and researchers.

"It has been very heart-warming to be so well received by the Huntington's community," says Prana Executive Chairman, Geoffrey Kempler. "Prana and our collaborators at major research institutions have been conducting extensive research into neurodegenerative diseases for more than a decade, including our efforts to learn more about Huntington's. Since we decided to conduct a Phase IIa trial of our experimental drug PBT2 in Huntington's patients, the Huntington's community has been very quick to support our research program."

Patient groups in Australia and the United States have welcomed the news of the planned trial. Shiralee Judge, chair of Australian Huntington's Disease Association, says, "It's very exciting and positive that an Australian company is conducting such extensive research to help us learn more about this disease and to identify a potential treatment to help patients. Huntington's is a very challenging disease, currently without an effective treatment or cure. Patients are very interested in new clinical research and we are looking forward to assisting Prana and their team of researchers with their investigation of PBT2."

The clinical trial will be conducted in conjunction with clinical experts and researchers at US-based schools, including Harvard's Massachusetts General Hospital and Johns Hopkins University. This research is receiving strong interest from the world's largest Huntington's group, the Huntington's Disease Society of America. The organisation's CEO, Louise Vetter, says, "We are hopeful and encouraged by Prana's commitment and look forward to the start of recruitment. Patients and families have always been involved in research which fosters a better understanding of this disease and will undoubtedly embrace this new opportunity. We are anxiously awaiting more information on Prana's trial."

Prana's earlier Alzheimer's trial showed that PBT2 significantly improves cognitive Executive Function in patients. This is relevant to Huntington's Disease given these patients also suffer cognitive decline. Prana researchers believe PBT2 can bring the same cognitive benefits to Huntington's Disease patients that it did to Alzheimer's Disease patients. Prana will need to recruit approximately 100 people with early stages of the disease across Australia and the United States, at 14-16 sites. Patients will be followed over 6 months. Researchers will assess safety, tolerability and efficacy of PBT2. Final results are expected late in 2013.

In addition to the Huntington's trial, Prana continues to expand research and clinical development programs in Alzheimer's and Parkinson's. The company will also conduct a Phase II brain imaging trial for Alzheimer's at the end of this year and recently received a research grant for its Parkinson's program from the prestigious Michael J. Fox Foundation for Parkinson's Research.

About Prana Biotechnology Limited
Prana 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 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.

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.