receives a $4.8 million R&D Tax Incentive Refund

receives a $4.8 million R&D Tax Incentive Refund

AUSTRALIA AND SAN FRANCISCO, USA - 15 January 2020. Alterity Therapeutics Limited (ASX: ATH, NASDAQ: ATHE) ("Alterity"

or "the Company") has today announced that it has received a A$4.8 million cash refund under the Australian Government's

R&D Tax Incentive Scheme.

refund relates to the cost of eligible research and development activities conducted during the 2019 financial year. These funds

will be used to further Alterity's research and development activities.

R&D Tax Incentive refund will add to Alterity's cash reserves which was reported as A$10.7 million at the end of September

& Additional information

announcement was authorised by Geoffrey Kempler, CEO and Chairman of Alterity Therapeutics Limited.

Alterity Therapeutics Limited

lead candidate, PBT434, is the first of a new generation of small molecules designed to inhibit the aggregation of pathological

proteins implicated in neurodegeneration. PBT434 has been shown to reduce abnormal accumulation of -synuclein and tau proteins

in animal models of disease by restoring normal iron balance in the brain. In this way, it has excellent potential to treat various

forms of atypical Parkinsonism such as Multiple System Atrophy (MSA) and Progressive Supranuclear Palsy (PSP).

further information please visit the Company's web site at www.alteritytherapeutics.com.

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 such statements.

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, PBT434, 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, PBT434, 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, PBT434,

that could slow or prevent products coming to market, the uncertainty of patent protection for the Company's intellectual property

or trade secrets, including, but not limited to, the intellectual property relating to PBT434.

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 updated 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.