Prana Biotechnology Ltd., an Australian company established to commercialize research into Alzheimer’s Disease and other major age-related neurogenerative disorders, today announced that it has secured a key patent protecting its clinical drug (PBT2) with the European Patent Office. The patent covers the composition of matter of selected families of 8-Hydroxyquinoline compounds, including PBT2, and the uses of such compounds for the treatment of neurological diseases, such as Alzheimer’s Disease and Huntington’s Disease.

PBT2, the company’s lead Alzheimer’s Disease compound, has already demonstrated safety and tolerability in early Alzheimer’s Disease patients in a Phase IIa study. It has also shown improvement in executive function, an important aspect of cognitive performance, along with reducing the levels of Abeta in the spinal fluid of patients. Abeta is a key protein associated with the disease. PBT2 is designed to improve cognition by preventing the formation of toxic forms of the Abeta protein in the synapses of the brain, improving neurotransmission.

Prana’s CEO, Geoffrey Kempler, commented on the significance of the patent. “The decision of the European Office to grant this patent further protects Prana’s valuable clinical asset PBT2, and well positions us to enter larger clinical trials and advance towards commercialization with the aim of having the first disease modifying drug and provide hope to millions of Alzheimer’s sufferers and their families.”

Since its founding as a private company in 1997, Prana has developed a unique platform technology, in association with internationally recognized scientists and academic institutions, including:

• The University of Melbourne
• Massachusetts General Hospital, Boston MA
• The Mental Health Research Institute of Victoria

The company’s research collaborators also extend to:

• The Buck Institute for Age Research, Novato, CA
• University of California, San Francisco, CA
• University College, London