Prana Biotechnology has raised over A$7 million from existing investors at a price of A$0.40 a share, in a private placement transaction. Investors include both US and Australian professional and sophisticated investors.

Prana Biotechnology has completed Phase IIa clinical trial of PBT2 in patients with early Alzheimer's disease. All patients have completed their final clinical assessment. The data are being analysed, and results will be delivered in the first quarter of 2008.

Biopharmaceutical firm Prana Biotechnology has completed final patient dosing in its double-blind, placebo-controlled Phase IIa clinical trial of PBT2 in patients with early Alzheimer's disease.

Australia-based Prana Biotechnology is planning to raise approximately $6 million to fund its phase IIa trial of PBT2 in patients with Alzheimer's disease.