Prana Biotechnology Limited (NASDAQ: PRAN) (ASX: PBT), a
biopharmaceutical company focused on the research and development of
treatments for neurodegenerative disorders, today announced that it
has identified novel therapeutic drug candidates from its Parkinson's
disease program. Already, a lead candidate drug has demonstrated
positive effects in pre-clinical studies, protecting the brain from
damage to the substantia nigra, the area of the brain affected in
Parkinson's disease.

Prana's drug candidates are being tested on two widely used mouse
models for Parkinson's disease, which employ either the 6-hydroxy-
dopamine (6-OHDA) or MPTP toxins. These models mimic the disease by
using these toxins to destroy the substantia nigra cells over time,
leading to motor function loss. Already a candidate lead drug has
been shown to protect and preserve the substantia nigra cells from
the damage of 6-OHDA and was also able to increase motor function in
those animals treated with Prana's drug. In addition, the same lead
candidate drug showed benefit in the MPTP animal model and protected
the substantia nigra cells from the toxic damage of MPTP.

Prana's drug design is based on the understanding of the relationship
between metals, particularly Iron, and the oxidative damage to the
substantia nigra. This damage results in progressive
neurodegeneration leading to the characteristic symptoms of the
disease, notably a gradual loss of motor function over several years
and a loss of cognitive function in the later stage of the disease.
The compounds being tested in the program are novel compounds
selected from Prana's proprietary MPAC (metal-protein-attenuating
compounds) library for their selective suitability for Parkinson's
research.

"Prana's drug candidates for Parkinson's disease are designed to
target the underlying cause of the disease by protecting the brain
from neuronal loss with the aim of minimising the actual disease in
patients, in contrast to providing temporary symptomatic relief,"
stated Geoffrey Kempler, Chairman and CEO of Prana. "We are
optimistic for the potential of our Parkinson's disease program to
deliver an effective treatment to help patients. This will be a
valuable addition to our expanding pipeline of drug opportunities
arising from our MPAC library. To date, Prana's lead Alzheimer's
Disease MPAC, PBT2, has successfully completed a Phase IIa clinical
trial in Alzheimer's Disease and the company is looking to
partnership strategies as one way to accelerate its development into
larger trials. Prana's MPAC's are also being studied in other
neurodegenerative diseases such as Huntington's Disease as well as in
various cancers."

Individuals affected with Parkinson's disease in 15 of the world's
most populous nations are estimated to double over the next
generation. By 2030, the number is anticipated to reach between 8.7
million and 9.3 million worldwide.(1) In the US alone, an estimated
one million Americans currently suffer from Parkinson's disease.

The data will be presented at the Australian Society for Neurology
meeting in Brisbane on May 19 and the International Movement
Disorders Meeting in Chicago on June 2
May 06, 2008: 09:00 AM EST