ATH 3.13% 3.1¢ alterity therapeutics limited

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  1. 22,691 Posts.
    7.15 mill shares issued at 70 cents and about $5 mil was raised taking cash holdings to $7 mill.:

    http://stocknessmonster.com/news-item?S=PBT&E=ASX&N=208301

    Extract:

    "On 5 August 2003 Prana announced that its highly successful medicinal chemistry program had created a library of approx. 300 compounds specifically engineered to address age-related neurodegenerative diseases such as Alzheimers Disease.

    From these compounds the Company’s technical review committee selected an NCE (New Chemical Entity) which has been code-named

    PBT-2 to advance to human clinical trials. This follows the successful completion of Prana’s recent proof of concept trial utilising clioquinol (PBT-1), an existing off-label drug previously prescribed for a non-related application.

    PBT-2 is a new proprietary compound developed by Prana scientists to specifically target Alzheimers Disease.

    It is owned exclusively by Prana and has significantly outperformed PBT-1 in the laboratory and animal trials undertaken to date.

    Given the success of the previous human trials of PBT-1 the Board of Prana and its scientists approach the clinical phase of PBT-2 with heightened confidence".
 
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