ATHE - Alterity gets US patent inks licensing pact to advance asset for Alzheimer's

2023-03-14 08:09:44 ET

Alterity Therapeutics ( NASDAQ: ATHE ) said the composition of matter patent previously allowed by the U.S. Patent and Trademark Office (USPTO) was granted by the agency.

The patent No. 11,603,364 titled, 'Compounds for and methods of treating diseases,' covers more than 100 novel compounds with an acyl hydrazone (AH) structure and provides 20 years of exclusivity, the company noted.

In addition, Alterity signed a licensing agreement for the new patent and a sub-licensing agreement for PBT2 to Professor Colin Masters to advance the compounds to treat Alzheimer's disease (AD) and related disorders.

Under the agreement, Alterity granted the entire rights to the AH patent and an exclusive worldwide license to develop and sell both AH and PBT2 in AD.

In return, the company is eligible to future royalties on net sales.

Alterity noted that PBT2 was discovered by it and is currently its drug product candidate for AD.

"Because the AH compounds act similarly to PBT2, this deal makes good sense for future research and development to occur alongside one another. This arrangement broadens the opportunity for both programs since our clinical development efforts are currently focused on Parkinsonian disorders such as Multiple System Atrophy and Parkinson’s disease," said Alterity CEO David Stamler.

ATHE +1.91% to $3.20 premarket March 14

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