Prana Biotechnology (PBT)

Shares / Stock Code

PBT

Stock Exchange / Sharemarket

ax

Prana Biotechnology Limited (PBT) is a company engaged in researching about Alzheimer's disease as well as other type of age-related neurodegenerative diseases and disorders. It is also focused on developing pharmaceutical products that are exclusively designed and developed to treat and cure the root causes of the brain and eye degeneration as part of the aging processes. PBT was listed on the Australian Stock Exchange on the 28th of March 2000. Its average annual revenue reaches approximately $0.4 million out of its issued capital of approximately $53 million. Its headquarters is located in Victoria, Australia and to date; around 15 people are employed in the company.

Prana Biotechnology Limited is engaged in the development of therapies for different types of age-related diseases. An example of these therapies is the PBT-1, the company's initial product is a well-known therapeutic treatment used to cure Alzheimer's disease. PBT-2, the lead metal protein of PBT that attenuates the compound molecule (MPAC) for the Alzheimer's disease has been chosen to undergo development. This has undergone the in-vivo and the in-vivo testing and has also been designed for safety and efficacy profile improvement making it better than the PBT-1.

Prana Biotechnology Limited also has a research and licensing collaboration agreement with an international pharmaceutical company, The Schering as well as an organisation of the Universities of Melbourne, Neuroscience Victoria as well as Monash. This agreement was established for the purpose of promoting commercialisation of discoveries that were emanating from medical institutes and Victoria Universities.

Prana Biotechnology Company History

Prana Biotechnology was established in 1997. The company launched clinical testing of Phase II Alzheimer's disease in 2000. In 2001, the company got a contract for the placement of 6.67 million stakes with US and Australian institutions. Neuroscience Victoria and Prana Biotechnology partnered to advertise new products associated with neuroscience research. Also in 2001, the company undersigned a cross-relationship contract with Massachusetts General Hospital and additional technology. Jerrold Rosenbaum, professor of Psychiatry at Harvard Medical School and Interim chief of psychiatry entered into a consulting agreement.

In 2002, Successful Clinical Findings were declared. The company was included in the NASDAQ listing. Schering A.G. and the company collaborated to finance and license findings on new drug targets most especially in the diagnostics area in 2003.

The company joined a 10-year consultancy agreement with Professor Ashley I. Bush MD, PhD, a medical scientist in Harvard in 2004. In 2001, the company’s Board of Directors was Mr. Alsenas. Dr. Jonas Alsenas was also selected to be the Chief Executive Officer of the company in the same year.

Prana Biotechnology accepted Clinical Trials Authorisation (CTA) from the UK's Medicines and Healthcare Products Regulatory Agency (MHRA) to start the clinical test of PLACQUE (Progression Limitation in Alzheimer's: ClioQUinol's Efficacy) in 2005. Peter Marks became the company’s Non Executive Director.

The completion of the second Phase 1 test with lead compound PBT2 was in 2006. This test was for the treatment of Alzheimer's disease. Phase II clinical test was also started in the same year after accepting a permit from Sweden's Medical Products Agency (MPA).

Ms. Dianne Angus was the selected Chief operating officer; Chief European Clinical Advisor was Craig W. Ritchie; and the Head of Research was PhD Robert Cherry in April 2007. Professor Colin Masters retired in July 2007 from the Prana Board. The Phase IIa clinical test was commenced in January 2008. This experiment was to test the PBT2 to patients with early Alzheimer's disease.