Alterity Therapeutics Ltd. (NASDAQ: ATHE) stock gained by 64.62% at last close whereas the ATHE stock-price declines by 9.35% in the pre-market trading session. Alterity is working on first-in-class neurodegenerative disease treatments. ATH434, their main medication candidate, has shown effectiveness in many animal models of Parkinson’s disease and is currently being tested in human studies.
The United States Patent and Trademark Office has granted Alterity Therapeutics a new composition of matter patent (USPTO). The patent grants ATHE a monopoly on a new class of iron chaperones which is a device that allows excess iron in the central nervous system to be redirected. The patent’s structural backbone lays the groundwork for small molecule therapeutic candidates with the ability to breach the blood-brain barrier and address a cause of neuropathology directly.
Following an accelerated examination by the USPTO, the patent entitled “Compounds for and Methods of Treating Diseases” was issued. It comprises more than 150 new pharmacological formulations aimed at redistributing labile iron, which has been linked to a variety of neurological diseases.
Alterity expects to start a Phase 2 study for its primary clinical candidate ATH434 by the end of the year. ATH434 is a small molecule medication being researched for Multiple System Atrophy (MSA), a kind of atypical Parkinsonism in which iron promotes -synuclein aggregation and hence plays a significant role in pathogenesis. The findings of the Phase 2 research, as well as the scientific examination of ATH434, will aid in the creation and optimization of novel chemicals predicted to arise from the new patent.
The patent grants Alterity exclusivity for 20 years, laying a solid foundation for medication research and commercialization in key neurodegenerative disorders.
Alterity’s CEO, Dr David Stamler stated,
This new patent is an essential component of ATHE’s goal to diversify our portfolio of possible disease-modifying therapies for neurodegenerative illnesses that impact a large number of people. They aim to find a new clinical candidate by the time they obtain results from their lead clinical program, as the newly covered chemicals target extra brain iron that is elevated in these situations.