Alterity Therapeutics Ltd (NASDAQ: ATHE) received a new patent from the USPTO (The United States Patent and Trademark Office).
With this new patent, Alterity can now enjoy a monopoly over the new class of iron chaperones. In addition, the new technology allows the redistribution of iron stored in the central nervous system.
The new patent under the title – compounds for and techniques to cure diseases is received by Alterity after a thorough review by the USPTO.
Eliminates neurodegenerative diseases
The structural backbone mentioned in the patent paves the way to develop small molecule drug candidates that will potentially overcome the blood-brain barrier and attack the neuropathology source directly.
Excessive iron in the brain is a chief cause of several neurodegenerative diseases like Parkinson’s disease and Alzheimer’s disease.
The new patent allows Alterity to formulate over 150 innovative pharmaceutical compositions that help to redistribute labile iron.
Labile iron is implicated in several neurodegenerative conditions.
Plans to begin ATH434 clinical trial
Alterity expects to commence phase 2 clinical study of ATH434 by the end of this year. In addition, the company is developing a small molecule drug – ATH434 to cure MSA (Multiple System Atrophy).
The company will support its development and optimize the innovative compounds by taking guidance from the Phase 2 clinical trial and ATH434 scientific investigation.
Alterity received a 20-year exclusivity of the drug development/ commercialization to cure neurodegenerative diseases.
David Stamler, CEO of Alterity, said the new patent assumes significance in expanding its pipeline of drug candidates in curing the individual’s neurodegenerative diseases.
Alterity is also exploring options to patent its new formulations in other locations.
ATH434, a next-gen small molecule, is the lead drug candidate of Alterity. The company developed it to inhibit pathological proteins aggregation and protect individuals from neurodegenerative diseases. According to the trials conducted in animals, ATH434 can lower abnormal α-synuclein accumulation. In addition, it restores normal iron balance in the brain. Therefore, this drug candidate has excellent potential to treat Multiple System Atrophy and Parkinson’s disease.
Alterity also received positive guidance from the EMA for the phase 2 clinical study of ATH434 to cure MSA.
The company will target this innovative formulation to cure early-stage MSA patients.
Alterity stock is down by 18.22% on July 2, 2021, and closed at $1.75. However, the stock gained 28.68% in the past week.
