Alterity Therapeutics (NASDAQ: ATHE) has announced that the US Patent and Trademark Office has granted its Patent application No. 17/239,375 a Notice of Allowance.
This composition of matter patent gives a new class of iron chaperones meant to redistribute excess iron exclusive rights. Excess iron has been linked to a variety of neurological illnesses, including Parkinson’s and Alzheimer’s.
Alterity receives patent for new iron chaperones compounds
The patent, titled “Compounds for and Methods of Treating Diseases,” covered approximately 80 new compounds and was subjected to a priority review. Moreover, the grant comes at the back of Alterity’s US patent No. 10,941,143, covering claims on a separate collection of over 150 new compounds. Thus, the company is now well-positioned to address neurodegeneration with its iron chaperone tech. The absence of any innovation or creativity objections during the prosecution exemplified this position even further.
Alterity CEO David Stamler said, “As the scientific evidence implicating excess brain iron in neurodegeneration accumulates, our in-house research team continues to discover novel compounds that address this important target. The structural backbone illustrated in this new patent provides a larger foundation for small molecule drug candidates to attack this source of neuropathology. As we advance our lead clinical asset ATH434 into a Phase 2 clinical trial later this year, we look forward to identifying new drug candidates to add to our pipeline and address several critical disease.”
Alterity to have 20 years of exclusivity to 80 compounds
After certain administrative formalities have been accomplished, the USPTO will grant the patent, as per the notice of allowance. Thus, Alterity will have nearly 20 years of complete protection for the iron chaperone tech claimed in the patent, providing a solid foundation for drug development and marketing in neurodegenerative diseases such as Multiple System Atrophy, its first indication, Alzheimer’s Disease, and Parkinson’s Disease. The company’s flagship candidate ATH434 has the potential of treating different Parkinsonian disorder forms.
