(ASX:ATH) -
Source: Alterity Therapeutics
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Alterity Therapeutics (ATH) granted a United States patent for compounds for neurodegenerative diseases such as Parkinson’s and Alzheimer’s
  • The company says the patent covers more than 80 novel compounds and secures exclusivity for a new class of iron chaperones
  • These chaperones are designed to redistribute excess iron implicated in many neurodegenerative diseases
  • The company also says the patent provides a strong basis for drug development and commercialisation in major neurodegenerative diseases
  • Shares have been up 15 per cent trading at 2.3 cents

Biotechnology company Alterity Therapeutics (ATH) has been granted a United States patent for compounds for neurodegenerative diseases such as Parkinson’s and Alzheimer’s.

The composition of matter patent, “Compounds for and Methods of Treating Diseases”, is reportedly valid through 2041.

The company says the patent covers more than 80 novel compounds and secures exclusivity for a new class of iron chaperones. These chaperones are designed to redistribute the excess iron implicated in many neurodegenerative diseases.

The company also says the patent provides a strong basis for drug development and commercialisation in major neurodegenerative diseases.

Alterity CEO David Stamler said the patent will assist the company in expanding its therapeutic portfolio.

“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,” he said.

In addition to the US, the company says it is pursuing patent protection in other jurisdictions.

Shares were up 15 per cent trading at 2.3 cents at 11.28 am AEDT.

ATH by the numbers
More From The Market Herald
Little Green Pharma (ASX:LGP) - Managing Director, Fleta Solomon

" Little Green Pharma (ASX:LGP) seeks to expand to Greece

Little Green Pharma (ASX:LGP) seeks to expand to Greece
Orexplore Technologies (ASX:OXT) - Chair, Dr Alan Bye

" Orexplore Technologies (ASX:OXT) debuts on ASX

Mineral scanning technology company Orexplore Technologies (ASX:OXT) has commenced trading on the ASX today under the…
Frontier Digital Ventures (ASX:FDV) - Founder and CEO, Shaun DiGregorio

" Frontier Digital Ventures (ASX:FDV) completes $18.9m SPP

Frontier Digital Ventures (ASX:FDV) completes a share purchase plan (SPP) with applications totalling approximately $18.9 million,…
Technology Metals (ASX:TMT) - Managing Director, Ian Prentice

" Technology Metals (ASX:TMT) expands MoU for vanadium redox flow batteries

Technology Metals (ASX:TMT) is set to expand a memorandum of understanding which was first executed in…