Full Press Release Details
Alterity Therapeutics Receives
Research & Development Tax Incentive Refund
AUSTRALIA AND SAN FRANCISCO, USA - 26 March 2024. Alterity Therapeutics Limited (ASX: ATH, NASDAQ: ATHE) ("Alterity"
or "the Company"), a biotechnology company dedicated to developing disease modifying treatments for neurodegenerative diseases,
today announced that it has received a A$3.9 million cash refund from the Australian Taxation Office under the Australian Government's
Research and Development Tax Incentive (R&DTI) Scheme.
The cash refund relates to the cost
of eligible research and development activities conducted during the financial year ended 30 June 2023, and represents the amount disclosed
in the company's audited financial statements. These funds will be used to further Alterity's Phase 2 clinical trials in MSA,
ATH434- 201 and ATH434-202, along with planning for a potential Phase 3 clinical trial in MSA, continuing discovery and research efforts
in neurodegenerative diseases, including Parkinson's Disease, and general working capital.
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 -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 is currently being studied in two clinical trials: Study ATH434-201 is a randomized, double-blind, placebo-controlled Phase
2 clinical trial in patients with early- stage MSA and Study ATH434-202 is an open-label Phase 2 Biomarker trial in patients with more
advanced MSA. 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.
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