Prana Responds to Press comments on visits by pharmaceutical executives.
MELBOURNE, Australia - March 4, 2008: Prana Biotechnology Limited (NASDAQ: PRAN / ASX:
PBT) , has become aware of certain comments which appeared in today’s press which have followed on from
the release of 26 February 2008 when Prana announced the successful outcome of its Phase IIa Clinical Trial of
PBT2 in Early Alzheimer’s Disease. The comments relate to a visit to Prana by pharmaceutical company
executives and expressed the belief that Prana was engaged in confidential commercial discussions to fund further
trials of PBT2.
The Directors of Prana have received legal advice that under the Listing Rules of the Australian Stock Exchange
the Company is obliged to clarify the situation with this press release.
The Company confirms that it has entered into confidentiality arrangements with several large pharmaceutical
companies and is in various stages of discussion in respect of the licencing of its lead compound PBT2. The
Company wishes to emphasise that neither Prana nor any other party is obliged to conclude a transaction.
The Company is delighted with the outcome of the recent clinical trial as it demonstrated the safety and tolerability
of PBT2 in the 12 week trial. The trial also demonstrated significant reductions in Abeta 42 in patients with early
Alzheimer’s Disease and significant improvements in Executive Function performance in select cognitive tests.
The positive outcomes from the trial were viewed as a pre-requisite to advancing negotiations with a number of
interested parties as well as attracting the interest of new parties.
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