Benzinga | Feb 9, 2021 08:56AM EST

Alterity Therapeutics Announces $495K In Funding From Michael J. Fox Foundation For ATH434 Dose Optimization For Parkinson's Disease Clinical Trials

NEW YORK, Feb. 9, 2021 /PRNewswire/ -- Alterity Therapeutics ((ASX: ATH, NASDAQ:ATHE) ("Alterity" or "the Company") has today announced the award of a grant from The Michael J. Fox Foundation for Parkinson's Research to determine optimal dosing of its lead drug candidate ATH434 for Parkinson's disease (PD) based on imaging of brain iron.

The funding for US$495,000 will be used to evaluate the pharmacologic profile of ATH434 in a primate model to determine the optimal dose of ATH434 in future Parkinson's disease clinical trials. This is the second grant that Alterity has received from The Michael J. Fox Foundation to support the development of ATH434 in PD.

Alterity Chief Executive Officer Dr David Stamler said, "The Michael J. Fox Foundation is an incredible organisation at the frontier of research and treatment innovation for Parkinson's disease, which remains incurable and affects an estimated 7-10 million people worldwide[i]."