Alterity Therapeutics, a biotechnology company, raised A$20.0 million in capital through a placement of fully paid ordinary shares. This funding will support clinical and regulatory activities for ATH434 in Multiple System Atrophy (MSA) and general working capital. The Placement was conducted at A$0.012 per share, with no options issued. Alterity recently reported positive Phase 2 trial results for ATH434, showing clinical benefit and a favorable safety profile. The company plans to engage with the FDA for future development. Alterity focuses on developing disease-modifying therapies for Parkinson’s disease and related disorders. (Word count: 100)

CEO David Stamler expressed gratitude for investor interest, citing robust Phase 2 trial efficacy in MSA. The capital raise positions Alterity to pursue strategic partnerships and advance ATH434 with regulatory agencies. MST Financial Services managed the offering, with the Placement at a 7.7% discount to the last ASX closing price. Proceeds will fund non-clinical studies, CMC activities, and regulatory work for ATH434. Alterity aims to create an alternate future for those with neurodegenerative diseases, emphasizing its focus on Parkinson’s disease. Positive Phase 2 data support ongoing development efforts. (Word count: 100)

Read more at GlobeNewswire: Alterity Therapeutics Raises A$20.0 million in Strategic