Funds will be used for the development of the company’s pipeline in treatments for Alzheimer’s and other neurodegenerative diseases, such as Parkinson’s and Huntington’s disease.
Geoffrey Kempler, chairman and CEO of Prana Biotechnology, said: “The funds will allow us to boost our R&D activities. We are also progressing discussions with potential pharmaceutical partners and are confident that PBT2, our lead drug for Alzheimer’s disease, offers a very attractive opportunity.”