Prana's senior scientific consultant to take up
Federation Fellowship in Melbourne
23 June 2004
Prana Biotechnology Limited (Nasdaq: PRAN, ASX: PBT) today announced that Dr
Ashley Bush, co-founding scientist and senior scientific consultant to Prana
Biotechnology, has been awarded the highly prestigious Federation Fellowship from the
Australian Research Council to continue, in Australia, his ground-breaking research into
neurodegenerative diseases. Dr Bush will return from Harvard Medical School to take up
the five-year Fellowship at Melbourne's Mental Health Research Institute (MHRI), which
initiated and sponsored his application, and guaranteed financial, infrastructural and
equipment-related support. The Federation Fellowships are designed to develop and
retain “…world-class Australian researchers in key positions, and create
new…incentives for the application of their talents in Australia.”
Dr Bush’s research, conducted with Professor Rudy Tanzi at Harvard Medical School,
forms the basis of the Prana’s technology to treat Alzheimer’s disease. As a result of the
Fellowship, Dr Bush will make the Mental Health Research Institute in Australia his
primary research base, while maintaining his close collaborations around the world by
continuing his work on the role of metals in the brain and their relationship to
neurodegenerative diseases, particularly in Alzheimer's disease.
Executive Chairman of Prana, Geoffrey Kempler, stated, "We are delighted and applaud
the high profile recognition and support of Ashley’s skill by the ARC and the Mental
Health Research Institute.
“In our rapidly ageing society, neurodegenerative disorders such as Alzheimer's and
Parkinson's diseases will present a huge medical and economic challenge and demand
novel and powerful science such as Ashley’s research into the interactions between
metals and proteins in the brain.
“This Federation Fellowship will lead to a deeper understanding of the basic
mechanisms underlying such disorders, which is likely to improve the treatment of
Alzheimer’s disease and other neurodegenerative disorders” concluded Mr Kempler.
Federation Fellowships, awarded via the Australian Research Council, were created to
develop and retain outstanding research in Australia. The internationally competitive
salary that accompanies each Fellowship makes the return to Australia by expatriate
researchers an attractive proposal.
-----------------------------------------------------------------------------------------
Prana’s MPACs (metal protein attenuating compounds) are chemicals that bind zinc and copper, and have been shown
by Prana to lower the levels of the amyloid beta protein and the associated toxicity in the brain. A better understanding
of metal-protein interactions in the brain is expected to advance the develo pment of Prana's MPACs. One of them,
PBT-1, has already established proof of concept of Prana's technology in a successful clinical trial.
ends
About Prana Biotechnology Limited
Prana Biotechnology was established to commercialise research into Alzheimer's disease and
other major age-related degenerative disorders. The company was incorporated in 1997 and
listed on the Australian Stock Exchange in March 2000. Researchers at prominent international
institutions including the University of Melbourne and Massachusetts General Hospital at Harvard
Medical School discovered Prana’s technology.
About the Mental Health Research Institute (MHRI)
The MHRI is Australia's premier mental health research institute. Our mission is to discover the
causes and improve the diagnosis and treatment of the major functional psychoses, such as
schizophrenia, bipolar disorder and major depression, and neurodegenerative diseases, such as
Alzheimer's Type Dementia. The Institute's research is multidisciplinary and seeks to integrate
basic and clinical platforms. Comprised of over 90 staff of whom more than 30 are doctoral, the
MHRI is an independent institute (company limited by guarantee), which has close and productive
links with Melbourne and Monash Universities, the Austin Hospital and related institutes. The
Institute is a founding partner of Neuroscience Victoria and has several links with Industry
including Eli Lilly, Schering AG and Prana. The award of a Federation Fellowship to Ashley Bush
through and at the MHRI will have a major positive impact on the Institute's science, especially in
the area of neurodegenerative disorders.
Company Media and Investor, US Media, Australia
Geoffrey Kempler, Prana Ivette Almeida and Rachel Levine Kate Mazoudier
+61 (3) 9690 7892 212-983-1702 ext. 209 and 212 +61 3 9866 4722
[email protected] [email protected]
[email protected]
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