MELBOURNE, Australia, Nov.
16, 2020 /PRNewswire/ -- Alterity Therapeutics (ASX: ATH,
NASDAQ: ATHE) ("Alterity" or "the Company") 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.
Authorization & Additional information
This
announcement was authorized by Geoffrey
Kempler, Chairman and CEO of Alterity Therapeutics
Limited.
About Alterity Therapeutics Limited and ATH434
Alterity's lead candidate, ATH434 (formerly PBT434), is the
first of a new generation of small molecules designed to inhibit
the aggregation of pathological proteins implicated in
neurodegeneration. ATH434 has been shown to reduce abnormal
accumulation of α-synuclein and tau proteins in animal models of
disease by redistributing labile iron in the brain. In this way, it
has potential to treat Parkinson's disease and atypical forms of
Parkinsonism such as Multiple System Atrophy (MSA) and Progressive
Supranuclear Palsy (PSP).
ATH434 has been granted Orphan designation for the treatment of
MSA by the US FDA and the European Commission.
For further information please visit the Company's website at
www.alteritytherapeutics.com.
About Multiple System Atrophy
Multiple System Atrophy (MSA) is a rare and rapidly progressive
neurological disorder affecting adults. It has no known cause. In
addition to presenting with motor symptoms like those in
Parkinson's disease, individuals with MSA may also experience loss
of ability to coordinate voluntary movements and impaired
regulation of involuntary body functions such as blood pressure,
bowel and bladder control. Most of these symptoms are not addressed
by available drugs for patients with Parkinson's disease. As the
condition progresses, daily activities become increasingly
difficult and complications such as increased difficulty
swallowing, vocal cord paralysis, progressive immobility, and poor
balance become more prominent. Symptoms tend to appear after age 50
and rapidly advance, leading to profound disability.
Forward Looking Statements
This press release contains "forward-looking statements"
within the meaning of section 27A of the Securities Act of 1933 and
section 21E of the Securities Exchange Act of 1934. The Company has
tried to identify such forward-looking statements by use of such
words as "expects," "intends," "hopes," "anticipates," "believes,"
"could," "may," "evidences" and "estimates," and other similar
expressions, but these words are not the exclusive means of
identifying such statements.
Important factors that could cause actual results to differ
materially from those indicated by such forward-looking statements
are described in the sections titled "Risk Factors" in the
Company's filings with the SEC, including its most recent Annual
Report on Form 20-F as well as reports on Form 6-K, including, but
not limited to the following: statements relating to the Company's
drug development program, including, but not limited to the
initiation, progress and outcomes of clinical trials of the
Company's drug development program, including, but not limited to,
ATH434 (formerly PBT434), and any other statements that are not
historical facts. Such statements involve risks and uncertainties,
including, but not limited to, those risks and uncertainties
relating to the difficulties or delays in financing, development,
testing, regulatory approval, production and marketing of the
Company's drug components, including, but not limited to, ATH434,
uncertainties relating to the impact of the novel coronavirus
(COVID-19) pandemic on the company's business, operations and
employees, the ability of the Company to procure additional future
sources of financing, unexpected adverse side effects or inadequate
therapeutic efficacy of the Company's drug compounds, including,
but not limited to, ATH434, that could slow or prevent products
coming to market, the uncertainty of patent protection for the
Company's intellectual property or trade secrets, including, but
not limited to, the intellectual property relating to
ATH434.
Any forward-looking statement made by us in this press
release is based only on information currently available to us and
speaks only as of the date on which it is made. We undertake no
obligation to publicly update any forward-looking statement,
whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or
otherwise.
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SOURCE Alterity Therapeutics Limited