MELBOURNE,
Australia and SAN
FRANCISCO, Jan. 6, 2022
/PRNewswire/ -- 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 United States Patent and
Trademark Office (USPTO) has granted a new patent (No. 11,155,547)
to Alterity.
The composition of matter patent, entitled "Compounds for and
Methods of Treating Diseases", underwent prioritized examination by
the USPTO. The patent covers more than 80 novel compounds
and secures exclusivity for a new class of iron chaperones designed
to redistribute the excess iron implicated in many
neurodegenerative diseases, including Parkinson's disease and
Alzheimer's disease.
"We continue to identify new drug candidates to expand our
portfolio and protect our therapeutic approach to address
neurodegeneration," said David
Stamler, M.D., Chief Executive Officer, Alterity. "With the
granting of this patent and another composition of matter patent
last year, we are establishing a strong foundation as a leader in
targeting iron for potential disease modifying therapy for
important neurodegenerative diseases such as Parkinson's and
Alzheimer's."
The patent will provide Alterity with exclusivity over the
compounds claimed in the patent through 2041, thus providing a
strong basis for drug development and commercialization in major
neurodegenerative diseases.
In addition to the US, the company is pursuing patent protection
in other jurisdictions.
About Parkinson's Disease
Parkinson's disease (PD) belongs to a group of conditions called
motor system disorders, which cause unintended or uncontrollable
movements of the body. 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 part
of the brain that produces dopamine--a chemical needed to produce
smooth, purposeful movement. The four primary symptoms of PD are
tremors, rigidity, slowing of spontaneous and automatic movement,
and 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.[1] 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.[2]
About Alzheimer's Disease
Alzheimer's disease 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 Alzheimer's disease. 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 Alzheimer's disease. Medications may temporarily
improve or slow progression of symptoms, but there is no treatment
that cures Alzheimer's disease 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.[3]
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. Alterity also has a broad drug discovery platform
generating patentable chemical compounds to intercede in disease
processes. 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 information
This announcement was authorized by David Stamler, CEO of Alterity Therapeutics
Limited.
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, 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 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.
References
[1] National Institute of Health: Neurological
Disorders and Stroke, Parkinson's Disease Information Page;
[2] Parkinson's Foundation: Understanding
Parkinson's
[3] Mayo Clinic: Alzheimer's Disease
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SOURCE Alterity Therapeutics Limited