The new 'Prana' starts investor roadshow

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Alterity Therapeutics, formerly known as Prana Biotechnology (ASX:PBT), has announced it is meeting with sophisticated investors in both Singapore and Hong Kong in the first leg of a global investor roadshow.

Alterity is developing innovative therapies to treat neurodegenerative diseases including its lead drug candidate, PBT434, for the treatment of disorders related to Parkinson's disease.

PBT434 has received Orphan Drug designation for the first of its disease targets, Multiple System Atrophy.

Alterity is presenting at the Spark Plus Asia Healthcare Day in Singapore and Hong Kong.

The company said highlights of the investor presentation include background on its funding following the recent $44 million strategic investment by US-based Life Biosciences.

It also includes an update on the development of its lead therapy, PBT434, which is targeting key proteins implicated in neurodegeneration of Parkinson’s disease and atypical parkinsonism. The therapy is currently undergoing phase 1 trials.

According to CEO and chair, Geoffrey Kempler, “This is an exciting new chapter for our company with a Phase 1 clinical trial program nearing completion and the backing of a significant cornerstone investor in Life Biosciences.

“We have a comprehensive program to engage with investors to support both our NASDAQ and ASX listing and company that is well poised to capitalise on the large unmet need of treatment options for people suffering from forms of Parkinson’s disease.”

The company changed its name on 8 April 2019 from Prana Biotechnology to Alterity Therapeutics Limited and anticipates a new ticker code ASX:ATH will shortly be announced.