MELBOURNE, AUSTRALIA--(MARKET WIRE)--Aug 6, 2007 -- Prana Biotechnology Limited (NasdaqCM:PRAN - News) (ASX:PBT.AX - News), a biopharmaceutical company focused on the research and development of treatments for neurodegenerative disorders, today announced an update on the progress of its Phase IIa clinical trial of PBT2 in patients with early Alzheimer’s disease.