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Alterity Shares Rise 200% Premarket; Co Announced Approval Sunday of US Patent for Next Generation Compounds to Treat Neurodegenerative Diseases

Alterity Therapeutics (NASDAQ: ATHE) has today announced the allowance of a new composition of matter patent by the United States Patent and Trademark Office (USPTO).

· 11/16/2020 06:25
Alterity Therapeutics (NASDAQ:ATHE) has today announced the allowance of a new composition of matter patent by the United States Patent and Trademark Office (USPTO). The new patent is the product of in-house discovery research and is central to Alterity's next generation drug development portfolio focussed on neurodegenerative diseases. The patent, entitled "Compounds for and Methods of Treating Diseases" (Application No. 16/818,641), covers more than 150 novel pharmaceutical compositions that are designed to redistribute the labile iron implicated in Parkinson's disease, Alzheimer's disease and other neurodegenerative conditions. The patent, which was filed in March of 2020, underwent prioritized examination by the USPTO. Alterity's strategy is based on the hypothesis that its therapeutics can disrupt the underlying pathology of neurodegenerative conditions in which labile iron is implicated in disease pathology. This includes Parkinsonian disorders such as Parkinson's disease and Multiple System Atrophy, as well as Alzheimer's disease. The patent confers on Alterity 20 years of exclusivity, providing a strong basis for continued drug development and commercialization and new compound identification within its extensive drug discovery library to target important neurodegenerative diseases. This new patent will support the expansion of Alterity's drug development portfolio. Its most advanced compound, ATH434, currently in clinical development has a favourable safety and pharmacokinetic profile, achieving drug concentrations at the site of action that met or exceeded those associated with efficacy in animal models of Parkinson's disease and its first clinical target, Multiple System Atrophy. Alterity's Chairman and CEO, Mr Geoffrey Kempler said, "This broad patent establishes an excellent foundation for the company to pursue multiple therapeutics across a spectrum of neurodegenerative disease." "There is a growing clinical and scientific focus on the implication of elevated iron in the brain of people with neurodegenerative disease. Alterity has been at the forefront of research and drug development in this area, and we have significant research to support our current and future drug development efforts." "This patent allows us to fully prosecute these opportunities with confidence in the coming years to address some of the most devasting brain diseases which currently have few or no treatment options. In addition to the US, the company is pursuing patent protection in other jurisdictions.