Prana: Australian for Alzheimer's:
Labor to support critical Alzheimer's research
Posted: Friday, 5 November 2010 | By: John Brumby
Victorian based scientists who could unlock an effective treatment for Alzheimer’s disease will benefit from a $15 million boost to continue their vital research under a future Brumby Labor Government.
The Mental Health Research Institute, based in Parkville, is supporting critical research alongside local company Prana Biotechnology to advance a drug treatment for Alzheimer’s disease.
The Premier John Brumby today announced a grant of $15 million for work to continue on this important drug treatment for Alzheimer’s, which could be critical to tackling this disease that affects thousands of Victorians.
“To rise to the challenge of around 1000 Victorians turning 65 every week, we need to keep building a world class health system, including by supporting innovative research that could make a difference to the lives of Victorians with Alzheimer’s, their families and loved ones,” Mr Brumby said.
“As our population ages, we are seeing a growing number of Victorians affected by Alzheimer’s disease.
“Alzheimer’s doesn’t just affect those with the disease – for family members and friends watching a loved one affected by this degenerative and often debilitating disease, it can be a distressing and emotional journey.
“That’s why a future Labor Government will provide $15 million to the Mental Health Research Institute so it can work with Prana Biotechnology to undertake this critical medical research.”
The research has won strong praise from leading scientists including Sir Gustav Nossal, who has described the research as one of the iconic discoveries in Australian medical and health research.
According to a study by Access Economics, commissioned by Alzheimer’s Australia, dementia cases will grow from about 65,000 to 275,237 by 2050 in Victoria alone. Alzheimer’s disease represents about 70 per cent of all dementias.
The study shows dementia is the single leading cause of disability in Australians aged 65 and over.
Mr Brumby said the growing number of people affected by Alzheimer’s would put pressure on the health system.
“We want to address the long-term challenges that an ageing population will have on the health sector and innovative research will play a key role in that,” he said.
Mental Health Research Institute and Prana Biotechnology have been researching and developing a promising drug, PBT2, for more than 10 years and results show the drug could improve the treatment of Alzheimer’s in the future.
Mr Brumby said the funding will support the move to the next critical stage of clinical trialling to confirm that Alzheimers patients can benefit from being treated by PBT2.
“The trial is expected to involve about 500 patients with mild to moderate Alzheimer’s and will look at whether the benefits discovered in research so far can translate into treating patients,” he said.
In addition to investment in research and prevention, the Brumby Labor Government provides practical support to dementia sufferers and their families.
“We will continue to support those with dementia and Alzheimer’s and their carers by growing allied health and Home and Community Care services,” he said.
The $15 million will be funded through the $55 million Biotechnology Action Plan, launched last month.
“Victoria’s is recognised as a world leader in biotechnology and we want to continue to strengthen this,” Mr Brumby said.
“By supporting the sector that is helping in the fight against serious illnesses, we will grow our economy and create jobs.
“If the research is successful, it will not only change the lives of thousands of Victorians, it will create jobs in the research, biotechnology and healthcare sector.”
The research collaboration will also seek funding through the private sector and other sources.
Market Data 
Markets 
AI
