Prana Biotechnology Announces Retirement of Director
Prana Biotechnology Limited (NASDAQ: PRAN) (ASX: PBT), a biopharmaceutical company focused on the research and development of treatments for neurodegenerative disorders, today announced that Professor Colin Masters has retired from the Prana Board with effect from July 2, 2007, following his appointment as Director of the Mental Health Research Institute (MHRI) in Melbourne, Australia.
Mr. Geoffrey Kempler, Chairman and CEO of Prana, said, “Professor Masters has been a Director of Prana since December 1999 before the company first listed on ASX. He has made a tremendous contribution to Prana’s development and, fortunately, his opportunity to continue to contribute to Prana will be as great as ever, in his new position as Director of the prestigious MHRI.”
Prana has established a major research collaboration with the MHRI focused on developing therapeutics for a variety of unmet medical needs, based on Prana’s proprietary library of compounds, primarily targeting metal-protein interactions.
“We look forward to a long and productive ongoing relationship with Professor Masters, and continuing to benefit from his position as a global leader in Alzheimer’s disease and other neurodegenerative disorders,” concluded Mr. Kempler.
About Prana Biotechnology Limited
Prana Biotechnology was established to commercialize research into Alzheimer’s disease and other major 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.
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SOURCE: Prana Biotechnology