+ data and comment +, page-31

re: june 30 quarterly report Commitments Test Entity - Fourth Quarter Report

http://sa.iguana2.com/cache/64a5b59e59313c7ec5606dc38d653f73/ASX-PBT-258282.pdf

Extract:
Company Highlights for the quarter ended 30 June 2006
• Following completion of the phase I trials, a clinical study report (including an expert pharmacokinetic report), was finalised on 26th May 2006. The Phase I clinical trial program for PBT2 investigated the safety/tolerability and pharmacokinetics of single and multiple oral doses of PBT2, in 55 young male volunteers and 32 older male and female volunteers.

The results indicated that the drug was well tolerated at doses proposed for Alzheimers treatment.
• On 11 May 2006, we announced plans to move forward with a Phase IIa clinical trial of PBT2 in patients with Alzheimer’s Disease in Sweden to measure the safety and tolerability of the drug at selected doses and indicators of potential efficacy in Alzheimer’s Disease. The trial is expected to commence in the fourth quarter of 2006, subject to final regulatory approval with results expected to be reported at the end of 2007.
• On 20 July 2006, Professor Ashley Bush, MD, PhD of the Mental Health Research Institute of Victoria (Australia) and a co-founding Prana scientist, presented at the 10th International Conference on Alzheimer’s Disease in Madrid that in mouse models, PBT2:
to improved memory performance within 5 days of oral dosing
to rapidly reduced the levels of soluble beta-amyloid (“Abeta”) in the brain; and to restored normal function across Abeta impaired synapses.
These findings provide a strong case for the anticipating efficacy of PBT2 in treating Alzheimers patients.