Alterity Therapeutics Launches to Asian Investors
Alterity Therapeutics Limited, (formerly Prana Biotechnology Limited) (ASX: PBT, NASDAQ: ATHE) (“Alterity” or “the Company”) is meeting this week with sophisticated investors in both Singapore and Hong Kong in the first leg of a global investor roadshow.
Alterity is developing first-in-class therapies to treat neurodegenerative diseases including its lead drug candidate, PBT434 for the treatment of Parkinsonian disorders.
PBT434 has received Orphan Drug designation for the first of its disease targets, Multiple System Atrophy.
Alterity is presenting at the Spark Plus Asia Healthcare Day in Singapore today and Hong Kong on Friday.
Highlights of the investor presentation:
- Alterity is a well-funded clinical stage drug development company following up to $44M strategic investment led by Life Biosciences LLC allowing accelerated and focused clinical development;
- A strong and highly experienced board and management team with significant R&D and commercialisation experience including 3 drug approvals by the US Food & Drugs Administration (FDA);
- Alterity’s lead drug under development PBT434, is a novel drug candidate targeting key proteins implicated in neurodegeneration of Parkinson’s disease and atypical parkinsonism;
- PBT434 is completing its Phase 1 clinical trial program;
- The first therapeutic target has been selected – Multiple System Atrophy (MSA), a form of atypical parkinsonism, which is a devastating disease with no approved treatments;
- The US FDA has designated Orphan Drug status for PBT434 for the treatment of MSA; and
- There is a significant commercial market potential PBT434 with MSA alone having an estimated peak sales of US$750M.
Mr. Geoffrey Kempler, CEO and Chairman said: “This is an exciting new chapter for our company with a Phase 1 clinical trial program nearing completion and the backing of a significant cornerstone investor in Life Biosciences.”
“We have a comprehensive program to engage with investors to support both our NASDAQ and ASX listing and company that is well poised to capitalise on the large unmet need of treatment options for people suffering from forms of Parkinson’s disease.”
The Company changed its name on 8 April 2019 from Prana Biotechnology Limited to Alterity Therapeutics Limited, (NASDAQ:ATHE) and anticipates the new ticker code ASX:ATH will shortly be announced.
Investors interested in meeting with Mr. Kempler and Dr Stamler MD, can contact IR@altertitytherapeutics.com