ATHE - Alterity stock rises on US patent linked to neurodegenerative diseases

• Alterity Therapeutics ( NASDAQ: ATHE ) stock rose ~9% on Thursday after the company said that a new composition of matter patent was allowed by the U.S. Patent and Trademark Office (USPTO).
• The company said the patent covers more than 100 novel compounds targeting neurodegenerative diseases including Parkinson's and Alzheimer's.
• The patent titled, 'Compounds for and methods of treating diseases,' provides 20 years of exclusivity, and was allowed after expedited review by the USPTO, the company added.
• Alterity added that the patent covers iron chaperones which are small molecules capable of binding and redistributing excess iron in the central nervous system.
• "With this patent, our discovery team has created a new scaffold that extends our approach of targeting key proteins implicated in these diseases," said Alterity CEO David Stamler.

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