The present investigation involves designing of a novel hexapeptide, which spontaneously self-assembles to form nanovesicles in physiological conditions. This peptide not only strongly binds with β-tubulin near taxol binding site, but also binds with microtubule lattice in-vitro, as well as intracellular microtubule networks. Interestingly, it inhibits amyloid fibril formation upon co-incubation with Aβ peptide in-vitro and shows excellent neuroprotection against Aβ infected neuronal cell (PC12). Present invention provides a novel approach to produce a peptide-based therapeutics for neurodegenerative disease.