Alterity Therapeutics Receives a A$3.9 Million Research & Development Tax Incentive Refund
26 Março 2024 - 11:25AM
Alterity Therapeutics Limited (ASX: ATH, NASDAQ: ATHE) (“Alterity”
or “the Company”), a biotechnology company dedicated to developing
disease modifying treatments for neurodegenerative diseases, today
announced that it has received a A$3.9 million cash refund from the
Australian Taxation Office under the Australian Government’s
Research and Development Tax Incentive (R&DTI) Scheme.
The cash refund relates to the cost of eligible
research and development activities conducted during the financial
year ended 30 June 2023, and represents the amount disclosed in the
company’s audited financial statements. These funds will be used to
further Alterity’s Phase 2 clinical trials in MSA, ATH434-201 and
ATH434-202, along with planning for a potential Phase 3 clinical
trial in MSA, continuing discovery and research efforts in
neurodegenerative diseases, including Parkinson’s Disease, and
general working capital.
About ATH434Alterity’s lead
candidate, ATH434, is an oral agent designed to inhibit the
aggregation of pathological proteins implicated in
neurodegeneration. ATH434 has been shown preclinically to reduce
α-synuclein pathology and preserve neuronal function by restoring
normal iron balance in the brain. As an iron chaperone, it has
excellent potential to treat Parkinson’s disease as well as various
Parkinsonian disorders such as Multiple System Atrophy (MSA).
ATH434 is currently being studied in two clinical trials: Study
ATH434-201 is a randomized, double-blind, placebo-controlled Phase
2 clinical trial in patients with early-stage MSA and Study
ATH434-202 is an open-label Phase 2 Biomarker trial in patients
with more advanced MSA. ATH434 has been granted Orphan drug
designation for the treatment of MSA by the U.S. FDA and the
European Commission.
About Alterity
Therapeutics LimitedAlterity
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.
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 Bernarda
remy.bernarda@iradvisory.com+1 (415) 203-6386
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