PBT 2.50% 3.9¢ prana biotechnology limited

final report-developments

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    Drug Development:
    • PBT-1: Double blind proof-of-concept clinical trial and extension clinical trial complete. Publication submitted
    to key International peer review journal.
    • PBT-2: Proprietary lead molecule selected and formal development initiated. Clinical trial targeted for 2004

    • Design and synthesis is underway for next generation compounds for Alzheimer’s Disease (NG-1) and
    Parkinson’s Disease (NG-2).

    • Immunotherapy: Awarded an AusIndustry BIF grant. Research Program initiated.
    • Chemistry and Discovery program: Over 300 MPACs (metal-protein attenuating compounds) now designed,
    synthesised and tested in preclinical models. AusIndustry Start Grant milestones met 6 months ahead of schedule.

    Research effort enhanced through collaborations with Schering A.G. and extension of University of
    Melbourne/MHRI agreement.

    • Prana successfully defended an opposition to it’s European patent covering the use of “zinc binding agents for the treatment of Alzheimer’s Disease”
    • 3 Patent applications entered International phase prosecution

    • Patent applications submitted for 6 new MPAC chemical classes Prana Biotechnology Limited ABN 37 080 699 065 Page 3
    • Licensing:
    • Research collaboration worth up to $7.3 million plus milestones and royalties signed with Schering A.G. and
    Neuroscience Victoria (NSV).
    • MPAC technology: potential partners identified and preliminary discussions initiated.

    • Management:
    • Dr Ross Murdoch employed as full time Chief Operating Officer and head of R&D in August 2002.
    • Ms Dianne Angus employed as Vice President of IP and Licensing in August 2002.
    • Publications:
    • Over 24 key publications and articles submitted for inclusion in key International peer reviewed journals
    • The publication associated with the PBT-1 clinical trial submitted and awaiting publication.

    Prana Biotechnology Limited (“Prana”) was listed on the Australian Stock Exchange in March 2000 and on
    NASDAQ in September 2002. The Company’s platform technology is focussed on developing treatments for
    neurodegenerative diseases, having been developed with the financial support of various grants and private equity.
    The primary application of Prana’s platform technology remains Alzheimer’s Disease , however very positive
    recent research findings has encouraged the company to apply its technology to other age-related degenerative disorders where the pathology of the disease is based on the interrelationship between certain metals and particular proteins (especially Parkinson’s Disease).
    Prana scientists discovered that the toxicity seen with many neurological diseases is associated with the interaction of key metals and disease specific target proteins.

    Prana’s chemistry program is directed to the development of new chemical entities termed “MPACs” (metal-protein attenuating compounds) designed to reduce this toxic metalprotein interaction.

    The body of evidence supporting the development of MPACs for the treatment of Alzheimer’s Disease, Parkinson’s Disease and other major neurological and non-neurological diseases, continues to grow.

    This effort has seen Prana discover, optimise and patent MPAC molecules designed to attenuate the interaction of the protein beta-amyloid with copper and zinc for Alzheimer’s Disease and to attenuate the interaction of the protein alpha-synuclein with the endogenous metal iron for Parkinson’s Disease.

    Prana has adopted an aggressive intellectual property strategy under which it has developed protection of its platform technology and drug assets through broad strategic “composition of matter” patents designed to limit opportunities for competition".
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