Jan 31 (Reuters) - Prana Biotechnology Ltd PBT.AX :
* PRANA RECEIVES FIRST ORPHAN DRUG DESIGNATION FROM THE FDA FOR THE TREATMENT OF MULTIPLE SYSTEM ATROPHY
* PRANA BIOTECHNOLOGY LTD - PRANA IS CONDUCTING A PHASE 1 CLINICAL TRIAL OF PBT434 AND EXPECTS IT TO BE COMPLETED THIS YEAR