Alterity Therapeutics (ASX: ATH, NASDAQ: ATHE) (“Alterity” or “the
Company”), a biotechnology company dedicated to developing disease
modifying treatments for neurodegenerative diseases, today
announced the European Patent Office has granted Alterity a new
composition of matter patent.
The patent secures broad protection over a new
class of iron chaperone drug candidates for treating major
neurodegenerative diseases. It is well established that excess iron
in the brain is implicated in the pathology of many important
neurodegenerative diseases, including Alzheimer’s and Parkinson’s
diseases.1
“The granting of this patent is an important
component of our strategy to become a leader in the development of
drugs that target critical neurodegenerative diseases,” said David
Stamler, M.D., Chief Executive Officer of Alterity. “Through
restoration of normal iron balance in the brain, we have the
potential to slow disease progression of diseases including
Parkinson’s and Alzheimer’s. This patent helps protect our approach
and expands our portfolio as we look to develop novel disease
modifying treatments for these debilitating conditions.”
The patent, entitled, “Compounds for and Methods
of Treating Diseases”, Patent No. 3938364, is effective 23 August
2023 when published in the European Patent Bulletin. The
composition of matter patent covers more than 150 novel
pharmaceutical compositions that are designed to redistribute the
excess iron implicated in neurodegenerative diseases. The
patent will confer on Alterity 20 years of exclusivity over
the compounds claimed in the patent, thus providing a strong basis
for drug development and commercialization.
About Alzheimer’s Disease
Alzheimer's disease (AD) is a progressive
neurologic disorder that causes the brain to shrink (atrophy) and
brain cells to die. Alzheimer's disease is the most common cause of
dementia — a continuous decline in thinking, behavioral, and social
skills that affects a person's ability to function independently.
Approximately 5.8 million people in the United States age 65 and
older live with AD. Of those, 80% are 75 years old and older. Out
of the approximately 50 million people worldwide with dementia,
between 60% and 70% are estimated to have AD. Medications may
temporarily improve or slow progression of symptoms, but there is
no treatment that cures AD or alters the disease process in the
brain. In advanced stages of the disease, complications from severe
loss of brain function, such as dehydration, malnutrition or
infection, result in death.2
About Parkinson’s Disease
Parkinson's disease (PD) is the second most
common neurodegenerative disorder and causes unintended or
uncontrollable movements of the body along with neuropsychiatric
and other nonmotor features. The precise cause of PD is
unknown, but some cases are hereditary while others are thought to
occur from a combination of genetics and environmental factors that
trigger the disease. In PD, brain cells become damaged or die
in the substantia nigra, the part of the brain that produces
dopamine--a chemical needed to produce smooth, purposeful movement.
The cardinal symptoms of PD are tremors, rigidity, slowing of
movements, and later in disease, impaired balance. Other symptoms
may include difficulty swallowing, chewing, or speaking; emotional
changes; urinary problems or constipation; dementia or other
cognitive problems; fatigue; and problems sleeping.3
Nearly one million people in the U.S. and more than 10 million
people worldwide are living with PD. Approximately 60,000 Americans
are diagnosed with PD each year.4
About Alterity Therapeutics
Limited
Alterity Therapeutics is a clinical stage
biotechnology company dedicated to creating an alternate future for
people living with neurodegenerative diseases. The Company’s
lead asset, ATH434, has the potential to treat various Parkinsonian
disorders and is currently being evaluated in two Phase 2 clinical
trials in Multiple System Atrophy. Alterity also has a broad drug
discovery platform generating patentable chemical compounds to
treat the underlying pathology of neurological diseases. The
Company is based in Melbourne, Australia, and San Francisco,
California, USA. For further information please visit the Company’s
web site at www.alteritytherapeutics.com.
Sources1Dusek, P. et al. Cerebral Iron
Deposition in Neurodegeneration. Biomolecules 2022, 12, 714.
https://doi.org/10.3390/biom12050714.1Ayton S., et al. Cerebral
quantitative susceptibility mapping predicts amyloid-β-related
cognitive decline. Brain. 2017 Aug 1;140(8):2112-2119. doi:
10.1093/brain/awx137. PMID: 28899019.1Damulina, A. et al.
Cross-sectional and Longitudinal Assessment of Brain Iron Level in
Alzheimer Disease Using 3T MRI. Radiology 2020; 296:619–626.
https://doi.org/10.1148/radiol.20201925411Ma, L. et al. Parkinson’s
disease: Alterations in iron and redox biology as a key to unlock
therapeutic strategies. Redox Biology 2021; 41, 101896.
https://doi.org/10.1016/j.redox.2021.1018962Mayo Clinic:
Alzheimer’s Disease3National Institute of Health: Neurological
Disorders and Stroke, Parkinson's Disease Information
Page;4Parkinson’s Foundation
Authorisation & Additional informationThis
announcement was authorized by David Stamler, CEO of Alterity
Therapeutics Limited.
Investor and Media Contacts:
AustraliaHannah
Howlettwe-aualteritytherapeutics@we-worldwide.com+61 450 648
064
U.S.Remy Bernardaremy.bernarda@iradvisory.com
+1 (415) 203-6386
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, 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,
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 obtaining patent protection
for the Company's intellectual property or trade secrets, the
uncertainty of successfully enforcing the Company’s patent rights
and the uncertainty of the Company freedom to operate.
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.
Alterity Therapeutics (NASDAQ:ATHE)
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