The company's lead drug candidate – PBT2 – is being developed for the treatment of Alzheimer’s and Huntington's diseases, pending positive trial results.

Prana Biotechnology also has advanced a drug candidate for Parkinson’s disease and other movement disorders (PBT434) and brain cancer (PBT519), which are in pre-clinical toxicology testing. Development of PBT434 has received funding from the Michael J. Fox Foundation and Parkinsons UK.

The company has a library of more than 1,000 Metal Protein Attenuating Compounds (MPACs) which may support new therapies for neurodegenerative disease and other highly prevalent conditions. Other potential applications for this platform technology include specific cancers.

The chairman and chief executive is Geoffrey Kempler.