Clioquinol patent dispute settled

"Prana and Massachusetts General Hospital have agreed to settle all outstanding litigation with P.N Gerolymatos S.A. (P.N.G.) regarding the exploitation rights to certain patents relating to pharmaceutical compositions and uses of clioquinol (also known as PBT-1... Prana will hold rights in the U.S. and Japan. P.N.G. will hold right for European and other territories." Clioquinol completed a phase II trial in 2003. Prana also reports that a newer drug PBT-2 is in the final steps of preclinical testing and is being readied to enter phase I trials.