Prana Selected for “Hot Topics” and Alzheimer’s Association Press Briefing at ICAD

Dr. Jeffrey Cummings to Present Recent Clinical Trial Results

MELBOURNE, AUSTRALIA–(EMWNews – July 17, 2008) – Prana Biotechnology Limited (NASDAQ: PRAN) (ASX: PBT), a biopharmaceutical company focused on the research and

development of treatments for neurodegenerative disorders, today announced

that Dr. Jeffrey Cummings, the Chairman of Prana’s Research and Development

Advisory Board has been invited to present findings from the company’s

Phase IIa clinical trial during the “Hot Topics” session at the 2008

International Conference on Alzheimer’s Disease (ICAD) to be held in

Chicago, Illinois. Dr. Cummings will be presenting a talk entitled

“Targeting Abeta as a Modifying Therapy of Alzheimer’s Disease: Safety,

Efficacy and Biomarker Findings of a Phase IIa Randomised, Double-Blind

Placebo-Controlled trial of PBT2” on July 30 at 11:15am.

Part of the Alzheimer’s Association research program, ICAD is the world’s

leading forum on dementia research. The conference brings together more

than 5,000 researchers, physicians and care providers from 60 different

countries. The “Hot Topics” session is devoted to exciting advances in

Alzheimer’s therapy. Prana’s drug, PBT2, is a novel and very promising

approach to the treatment of Alzheimer’s disease.

During the presentation Dr. Cummings will present data from Prana’s latest

clinical trial. In the 12 week study in mild Alzheimer’s disease patients,

PBT2 demonstrated safety and tolerability, reduced Abeta 42 in the

cerebrospinal fluid, and improved Executive Function performance in select

cognitive tests.

“In 2006 the Alzheimer’s Association selected Prana’s PBT2 pre-clinical

data to be highlighted at ICAD’s ‘Hot Topics’ session. Now, two years

later, we are excited to be selected again, this time to discuss our

clinical trial results,” said Geoffrey Kempler, Prana’s Executive Chairman.

“This continued interest in PBT2 is very encouraging.”

“We know that Abeta requires metals in order to become toxic in the brain

and PBT2 protects the brain from this interaction. So we are increasingly

optimistic about the prospects of PBT2 as a therapy for Alzheimer’s

disease, and our inclusion in Hot Topics and the associated Alzheimer’s

Association Press Briefing at ICAD is indeed very gratifying,” concluded

Mr. Kempler.

In addition to Dr. Cummings, five of Prana’s scientists and consultants

have also been invited to present their research at ICAD and will discuss

PBT2:

--  Rudy Tanzi, PhD. July 27 at 10:50am

    Professor, Department of Neurology, Harvard Medical School, USA

    Genetic association studies in Alzheimer's disease -- Genetics can be

    used to guide drug discovery and development in AD.



--  Kaj Blennow, PhD. July 28 at 10:30am

    Professor, Neurochemistry Lab, Sahlgrenska University Hospital,

    Gothenburg, Sweden

    Overview of Biomarkers -- Cerebrospinal fluid biomarkers reflect the

    central pathogenic processes in AD, including the deposition of Abeta

    in plaques (the 42 amino acid form of Abeta, Abeta42). PBT2 has been

    shown to reduce Abeta42 in patients with mild AD after 12 weeks of

    treatment.



--  Colin Masters, MD. July 28 at 11:30am

    Executive Director, Mental Health Research Institute, Victoria,

    Australia

    Rational therapeutic strategies for modifying Alzheimer's disease:

    Abeta oligomers as the validated target



--  Robert Cherny, PhD. July 29 at 3:45pm

    Associate Professor, Mental Health Research Institute, Victoria,

    Australia

    The 8-hydroxyquinoline analog PBT2 rapidly restores cognition and

    reduces soluble Abeta in Alzheimer's transgenic mice



--  Kevin Barnham, PhD. July 30 at 3:00pm  *Hot Topics Session*

    Associate Professor, Department of Pathology, University of Melbourne,

    Victoria, Australia

    Therapeutic inhibition of GSK3beta decreases Abeta oligomers, decreases

    tau phosphorylation, and improves cognition in a mouse model of AD. --

    Further investigations into the mechanism by which Metal Protein

    Attenuating Compounds (MPACs), such as PBT2, can manipulate metals in

    the AD brain.



    -- July 28 at 12:30pm (Poster)

    Second generation MPAC PBT2 inhibits Tau phosphorylation and promotes

    Abeta degradation

About Prana Biotechnology Limited

Prana Biotechnology was established to commercialize 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, please visit our web site at www.pranabio.com.