Alterity Therapeutics Doses First Patient in ATH434 Phase 2 Clinical Trial in Multiple System Atrophy MELBOURNE, AUSTRALIA AND SAN FRANCISCO, USA - 6 July 2022: Alterity Therapeutics (ASX: ATH, NASDAQ: ATHE) ("Alterity"

Therapeutics Doses First Patient in ATH434 Phase 2 Clinical Trial in Multiple System Atrophy

AUSTRALIA AND SAN FRANCISCO, USA - 6 July 2022: 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 first patient has been dosed in the Company's Phase 2 clinical trial of ATH434 in Multiple System Atrophy (MSA), a rare and

highly debilitating Parkinsonian disorder.

it is similar to Parkinson's disease, MSA progresses more rapidly and causes profound disability. In addition to the motor symptoms

characteristic of Parkinson's disease, MSA manifests with more severe autonomic nervous system impairment resulting in bladder

dysfunction and the inability to maintain normal blood pressure, as well as uncoordinated or clumsy movements that contribute to falling.

There are no known causes or specific risk factors associated with the disease.

of our first patient is a significant milestone for Alterity as we look to bring a potential new treatment option to individuals living

with MSA," said David Stamler, M.D., Chief Executive Officer, Alterity. "This is just the first step as we expect to expand

enrolment in multiple regions over the second half of this year. We are grateful to the entire clinical team at the New Zealand Brain

Research Institute whose efficiency and dedication to their patients supported this accomplishment."

a clinician looking after people with MSA, I'm very pleased that Alterity has chosen to bring this clinical trial of a novel prospective

therapy to New Zealand. There is presently no available treatment to slow down or prevent progression of this distressing brain disorder

so trials such as this are very welcome," added Professor Tim Anderson, Lead Investigator of the trial at the New Zealand Brain

Phase 2 clinical trial is a randomized, double-blind, placebo-controlled investigation of ATH434 in patients with early-stage MSA. The

study will explore the effect of ATH434 treatment on imaging and protein biomarkers, such as aggregating -synuclein and excess

iron, which are important contributors to MSA pathology. Clinical and biomarker endpoints will permit comprehensive assessment of ATH434

efficacy along with characterization of safety and pharmacokinetics. The study is expected to enroll approximately 60 adult patients

to receive one of two doses of ATH434 or placebo. Patients will receive treatment for 12 months which will provide an opportunity to

detect changes in efficacy endpoints to optimize design of a definitive Phase 3 study. Additional information on the Phase 2 trial can

be found by ClinicalTrials.gov Identifier: NCT05109091.

lead candidate, ATH434, is the first of a new generation of small molecules designed to inhibit the aggregation of pathological proteins

implicated in neurodegeneration. ATH434 has been shown preclinically to reduce -synuclein pathology and preserve nerve cells by

restoring normal iron balance in the brain. In this way, it has excellent potential to treat Parkinson's disease as well as various

forms of atypical Parkinsonism such as Multiple System Atrophy (MSA). ATH434 has successfully completed a Phase 1 clinical trial demonstrating

the agent is well tolerated, orally bioavailable, and achieved brain levels comparable to efficacious levels in animal models of MSA,

with the objective of restoring function in patients with MSA and other Parkinsonian disorders.

has been granted Orphan designation for the treatment of MSA by the U.S. FDA and the European Commission.

Multiple System Atrophy

System Atrophy (MSA) is a rare, neurodegenerative disease characterized by failure of the autonomic nervous system and impaired movement.

The symptoms reflect the progressive loss of function and death of different types of nerve cells in the brain and spinal cord. It is

a rapidly progressive disease and causes profound disability. MSA is a Parkinsonian disorder characterized by a variable combination

of slowed movement and/or rigidity, autonomic instability that affects involuntary functions such as blood pressure maintenance and bladder

control, and impaired balance and/or coordination that predisposes to falls. A pathological hallmark of MSA is the accumulation of the

protein -synuclein within glia, the support cells of the central nervous system, and neuron loss in multiple brain regions. MSA

affects approximately 15,000 individuals in the U.S., and while some of the symptoms of MSA can be treated with medications, currently

there are no drugs that are able to slow disease progression and there is no cure.1

Institute of Health: Neurological Disorders and Stroke, Multiple System Atrophy Fact Sheet

Alterity Therapeutics Limited

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. Alterity also has a broad

drug discovery platform generating patentable chemical compounds to intercede in disease processes. 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.

& Additional information

announcement was authorized by David Stamler, CEO of Alterity Therapeutics Limited.

press release contains "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933 and section

21E of the Securities Exchange Act of 1934. The Company has tried to identify such forward-looking statements by use of such words as

"expects," "intends," "hopes," "anticipates," "believes," "could," "may,"

"evidences" and "estimates," and other similar expressions, but these words are not the exclusive means of identifying

factors that could cause actual results to differ materially from those indicated by such forward-looking statements are described in

the sections titled "Risk Factors" in the Company's filings with the SEC, including its most recent Annual Report on

Form 20-F as well as reports on Form 6-K, including, but not limited to the following: statements relating to the Company's drug development

program, including, but not limited to the initiation, progress and outcomes of clinical trials of the Company's drug development program,

including, but not limited to, ATH434, and any other statements that are not historical facts. Such statements involve risks and uncertainties,

including, but not limited to, those risks and uncertainties relating to the difficulties or delays in financing, development, testing,

regulatory approval, production and marketing of the Company's drug components, including, but not limited to, ATH434, uncertainties

relating to the impact of the novel coronavirus (COVID-19) pandemic on the company's business, operations and employees, the ability

of the Company to procure additional future sources of financing, unexpected adverse side effects or inadequate therapeutic efficacy

of the Company's drug compounds, including, but not limited to, ATH434, that could slow or prevent products coming to market, the uncertainty

of obtaining patent protection for the Company's intellectual property or trade secrets, the uncertainty of successfully enforcing the

Company's patent rights and the uncertainty of the Company freedom to operate.

forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as

of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral,

that may be made from time to time, whether as a result of new information, future developments or otherwise.