Alterity Therapeutics (ASX: ATH) has successfully raised AU$40.0 million via a two-tranche placement to advance the development of ATH434 for neurodegenerative diseases, including Parkinson's disease. The capital raise was strongly supported by domestic and international institutional investors. The first tranche of AU$12.8 million is set to close on 17 February 2025, while the second tranche of AU$27.2 million will require shareholder approval at an Extraordinary General Meeting in late March 2025.
ATH434 has shown promising results in treating Multiple System Atrophy (MSA), with data demonstrating significant clinical benefits, including a 48% slowing of progression in a Phase 2 trial. The funds raised will be used to accelerate regulatory activities, clinical trials, and ongoing research, particularly focusing on Parkinson’s disease. Alterity’s CEO, David Stamler, emphasized the potential of ATH434 and the importance of FDA discussions to expedite its development.
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