Alterity Therapeutics Announces Funding to Accelerate ATH434 Clinical and Business Development Activities
MELBOURNE, AUSTRALIA AND SAN FRANCISCO, USA – 3 February 2025: Alterity Therapeutics (ASX: ATH, NASDAQ: ATHE) (“Alterity” or “the Company”), a biotechnology company dedicated to developing disease modifying treatments for neurodegenerative diseases, today announced that it raised capital in the U.S. to accelerate clinical development and business development activities for the Company’s lead asset, ATH434.
Based on the positive topline results reported on 30 January 2025 from the ATH434-201 Phase 2 trial in multiple system atrophy (MSA), the Company was afforded the opportunity to raise capital in the U.S. via its at-the-market (ATM) facility. In addition to raising approximately A$2.13M on the ATM, the Company expects to receive in Q1 CY2025 approximately A$5.69M in rebates from the from the Australian Taxation Office under the Australian Government’s Research and Development Tax Incentive (R&DTI) Scheme.
Combined, these proceeds will enable the Company to advance its clinical and regulatory activities, and to accelerate business development activities for ATH434.
About ATH434
Alterity’s lead candidate, ATH434, is an oral agent designed to inhibit the aggregation of pathological proteins implicated in neurodegeneration. ATH434 has been shown preclinically to reduce α-synuclein pathology and preserve neuronal function by restoring normal iron balance in the brain. As an iron chaperone, it has excellent potential to treat Parkinson’s disease as well as various Parkinsonian disorders such as Multiple System Atrophy (MSA). ATH434 successfully completed Phase 1 studies demonstrating the agent is well tolerated and achieved brain levels comparable to efficacious levels in animal models of MSA. ATH434 recently announced positive results from the randomized, double-blind, placebo-controlled Phase 2 clinical trial in patients with early-stage MSA. A second Phase 2 open-label 2 Biomarker trial in patients with more advanced MSA is ongoing. ATH434 has been granted Orphan Drug Designation for the treatment of MSA by the U.S. FDA and the European Commission.
About Alterity Therapeutics Limited
Alterity Therapeutics is a clinical stage biotechnology company dedicated to creating an alternate future for people living with neurodegenerative diseases. The Company’s lead asset, ATH434, has the potential to treat various Parkinsonian disorders and is currently being evaluated in two Phase 2 clinical trials in Multiple System Atrophy. Alterity also has a broad drug discovery platform generating patentable chemical compounds to treat the underlying pathology of neurological diseases. The Company is based in Melbourne, Australia, and San Francisco, California, USA. For further information please visit the Company’s web site at www.alteritytherapeutics.com.
Authorisation & Additional information
This announcement was authorized by David Stamler, CEO of Alterity Therapeutics Limited.
