Prana's Founding Scientists Present Findings at World Pharma Congress

MELBOURNE, AUSTRALIA--(Marketwire - Jun 7, 2011) - Prana Biotechnology (NASDAQ: PRAN) (ASX: PBT) today announced that Co-Founding Prana Scientists Rudolph Tanzi and Ashley Bush will discuss the latest information and insights about Prana's drug therapies for Alzheimer's, Huntington's and Parkinson's Diseases at the World Pharma Congress taking place in Philadelphia this week.

Rudy Tanzi, Joseph P. and Rose F. Kennedy Professor of Neurology, Harvard University, will present on Tuesday, June 7, a summary of recent findings regarding the genes that influence risk for Alzheimer's disease and the biological systems they implicate for drug discovery. Prof. Tanzi will discuss why he believes that clearing excess amyloid beta protein from the brain is the best way forward for treating and preventing Alzheimer's disease and that Prana's PBT2 provides the most promising solution to safely and efficaciously clear amyloid beta protein from the brain while also correcting harmful metal imbalances caused by the deposition of excess beta-amyloid in the brain.

Professor Ashley Bush, the Australian Research Council Federation Fellow at the Mental Health Research Institute of Victoria (Australia), will speak about Prana's therapeutic approach to neurodegenerative disease. On Wednesday June 8th, Professor Bush will discuss the subject of "Synaptic Zinc as a Pharmacological Target in Alzheimer's Disease." In this talk, he will describe the therapeutic value of PBT2 in Alzheimer's disease and Huntington's disease, disorders linked by deposits of aggregated protein and brain metal imbalance. On June 9th at the same venue, he will describe the actions of Prana's lead Parkinson's drug PBT434 in a talk titled "Tau and DJ-1: Insights into the Mechanism of Action of PBT434 in Parkinson's Disease Mouse Models."

For more information, see: http://www.worldpharmacongress.com

About Prana Biotechnology Limited
Prana Biotechnology was established to commercialise research into 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 the Company's web site at www.pranabio.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934. The Company has tried to identify such forward-looking statements by use of such words as "expects," "intends," "hopes," "anticipates," "believes," "could," "may," "evidences" and "estimates," and other similar expressions, but these words are not the exclusive means of identifying such statements. Such statements include, but are not limited to any statements relating to the Company's drug development program, including, but not limited to the initiation, progress and outcomes of clinical trials of the Company's drug development program, including, but not limited to, PBT2, and any other statements that are not historical facts. Such statements involve risks and uncertainties, including, but not limited to, those risks and uncertainties relating to the difficulties or delays in financing, development, testing, regulatory approval, production and marketing of the Company's drug components, including, but not limited to, PBT2, the ability of the Company to procure additional future sources of financing, unexpected adverse side effects or inadequate therapeutic efficacy of the Company's drug compounds, including, but not limited to, PBT2, that could slow or prevent products coming to market, the uncertainty of patent protection for the Company's intellectual property or trade secrets, including, but not limited to, the intellectual property relating to PBT2, and other risks detailed from time to time in the filings the Company makes with Securities and Exchange Commission including its annual reports on From 20-F and its reports on Form 6-K. Such statements are based on management's current expectations, but actual results may differ materially due to various factions including those risks and uncertainties mentioned or referred to in this press release. Accordingly, you should not rely on those forward-looking statements as a prediction of actual future results.