An anonymous reader writes "The Herald Sun is reporting that researchers may have some progress to report on the Alzheimer's front. A new drug, called PBT2, was developed by a Melbourne-based biotech firm that has been showing some promising results. From the article: 'Early clinical testing has confirmed the drug is fast-acting. Levels of amyloid dropped by 60 per cent within 24 hours of a single dose. It found also that PBT2 suppresses the impairment of memory function. More human studies begin in Sweden next month and Australians will join a major international trial of the drug next year.'"