Prana Receives Michael J. Fox Foundation Grant to Develop PBT434 for Parkinson's Disease

Prana Biotechnology Limited PRAN announced today that the company has received a grant* from The Michael J. Fox Foundation to support the initiation of pre-clinical studies which precede human trials of a novel treatment for Parkinson's disease known as PBT434. Prana, a leading Australian biotechnology company, is developing a range of highly unique treatments for neurodegenerative diseases. The funding was awarded by the well-known foundation after a highly competitive, international, peer-reviewed process. The support comes from the MJFF's 2011 Pipeline Program to support its Therapeutic Development Initiative.