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Prana's Research Presented at International Conference on Alzheimer's Disease on July 14

MELBOURNE, Australia - July 19, 2010 - Prana Biotechnology Limited (NASDAQ: PRAN / ASX: PBT), Head of Research, Assoc. Prof. Robert Cherny, presented new data on PBT2, the Company's lead compound in development for Alzheimer's Disease on July 14th at the prestigious International Conference of Alzheimer's Disease (ICAD) in Honolulu. The presentation was entitled "Novel molecular mechanisms for the neurotrophic and neuroprotective effects of PBT2 in Alzheimer's Disease and Huntington's Disease". The presentation is now available on Prana's website
ICAD 2010 drew thousands of international attendees to Hawaii to share the latest ideas, thoughts and theories in dementia science. Breaking research and new technology captured global media attention as the world's leading scientists explored innovative ways to unlock the mysteries of Alzheimer's.

The new findings presented by Prof. Cherny show that the effectiveness of PBT2 lies in a unique combination of complementary activities. PBT2 acts to detoxify A-beta by disarming it of copper and zinc and returns these crucial metals to neurons. Assoc. Prof. Cherny presented data* showing that by returning these metals to neurons, important cell signaling pathways are activated that prevent neuronal death and promote neuronal function. In addition, data was also presented linking the neuroprotective qualities of PBT2 with beneficial effects evident in an animal model of Huntington's Disease.

In collaboration with the University of California San Francisco, PBT2 was tested in the R6/2 transgenic model of Huntington's Disease. The mice exhibited significant improvement in coordination, motor function and lifespan**. Significantly, examination of the brains of treated mice showed marked reduction in atrophy of the striatal tissue. In Huntington's Disease, this tissue degenerates resulting in the loss of brain volume, a hallmark of the disease.

Professor Ashley Bush, a member of Prana's Research and Development Advisory Board commented about the significance of the data that was presented at ICAD, "The evidence is growing rapidly that disorder regulation of brain metal metabolism underlies major neurological diseases, such as Alzheimer's, Parkinson's and Huntington's Diseases. Prana's drug approach elegantly targets abnormal metal distribution while leaving essential minerals alone. The strong benefits we've seen in animal testing, and the rapid improvement in the Phase 2 clinical trial of PBT2 for Alzheimer's Disease, indicate that this unique approach holds enormous promise."


*8 month old APP/PS1 mice were treated for 11 days oral PBT2 30 mg/kg (n=7) or vehicle (n=7), In the brains of drug treated animals statistically significant (P<0.05) increases were detected in levels of neuronal markers TrkB, NMDAR1, NMDAr2a, NMDAR2b and CAMKII compared with untreated controls. Primary mouse cortical neurons cultured in the presence of 10μMPBT2 and 10μM zinc were protected against the toxic effects of 30μM glutamic acid (P<0.01).

**R6/2 (transgenic HD) mice were administered 30mg/kg PBT2 orally (n=10) or vehicle (N=10) for up to 8 weeks. Significant improvements (P<0.05) were observed in performance in the rotorod and hindlimb clasping tasks in the drug treated animals compared with the untreated controls. The average cumulative lifespan of the PBT2 treated animals was around 40% longer than that of the untreated controls (P<0.05).

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 Stock 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, and descriptions of the peer-reviewed journals, please visit the Company's web site at

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.

Contacts: Prana Biotechnology Limited +61 3 9349 4906

Posted: July 2010