Full Press Release Details
Alterity Therapeutics Receives
a $4.74 million Research & Development Tax Incentive Refund
MELBOURNE, AUSTRALIA AND SAN
FRANCISCO, USA - 15 August 2023. 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$4.74 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 2022, and represents the amount
disclosed in the company's audited financial statements. These funds will be used to further Alterity's clinical development
and research activities, including the ongoing Phase 2 clinical trials for the Company's lead drug candidate ATH434 in Multiple
System Atrophy (MSA), a Parkinsonian disorder with no approved therapy.
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 nerve cells 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 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 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.
Investor and Media Contacts: