Singapore: A clinical drug for Huntington's and Alzheimer's disease by Australia-based Prana Biotechnology, a global developer of first-in-class treatments for neurodegenerative disease, has been recognized as one of the Top 10 Neuroscience Projects to Watch by market analysis firm Elsevier Business Intelligence.

The top 10 list is selected by an independent panel each year to highlight compounds which address a large, unmet market, strong science and a diversity of indications. Other criteria include the potential for new opportunities beyond initial indications, multi-level partnering opportunities and a strong company behind the compound.

Companies selected in the Top 10 Neuroscience Projects to Watch were screened against strict criteria and are considered the most attractive neuroscience opportunities in the industry. Past Top 10 candidates have signed $17 billion in potential acquisitions and alliances including Vectura, AVEO, Trophos, BiPar, Myogen, Sirtris and Kosan.

"We are very pleased to have PBT2 recognised as one of the most promising treatments under development," said Prana's chairman and CEO, Mr Geoffrey Kempler.

"There currently exists very limited treatment options for Huntington's disease, which affects about 30,000 in the US and 1200 people in Australia. Current treatment options for Alzheimer's disease are also limited and focus on the symptoms of the disease rather than the cause," he added.