Alterity Therapeutics Granted New Composition of Matter Patent in Europe for Neurodegenerative Diseases including Parkinson’s and Alzheimer’s

New Patent Covers Over 150 Novel Compounds

MELBOURNE, Australia and SAN FRANCISCO, Aug. 23, 2023 (GLOBE NEWSWIRE) -- 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 European Patent Office has granted Alterity a new composition of matter patent.

The patent secures broad protection over a new class of iron chaperone drug candidates for treating major neurodegenerative diseases. It is well established that excess iron in the brain is implicated in the pathology of many important neurodegenerative diseases, including Alzheimer’s and Parkinson’s diseases.¹

“The granting of this patent is an important component of our strategy to become a leader in the development of drugs that target critical neurodegenerative diseases,” said David Stamler, M.D., Chief Executive Officer of Alterity. “Through restoration of normal iron balance in the brain, we have the potential to slow disease progression of diseases including Parkinson’s and Alzheimer’s. This patent helps protect our approach and expands our portfolio as we look to develop novel disease modifying treatments for these debilitating conditions.”

The patent, entitled, “Compounds for and Methods of Treating Diseases”, Patent No. 3938364, is effective 23 August 2023 when published in the European Patent Bulletin. The composition of matter patent covers more than 150 novel pharmaceutical compositions that are designed to redistribute the excess iron implicated in neurodegenerative diseases. The patent will confer on Alterity 20 years of exclusivity over the compounds claimed in the patent, thus providing a strong basis for drug development and commercialization.

About Alzheimer’s Disease

Alzheimer's disease (AD) 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 AD. 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 AD. Medications may temporarily improve or slow progression of symptoms, but there is no treatment that cures AD 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.²