ASX Health Stocks: Crucial new patents have Alterity, Rhythm Biosciences firing in early trade
Health & Biotech
Health & Biotech
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The ASX 200 Health Index (XHJ) is trading lower by 2% at the time of writing, compared to the broader index which is also down by 1.2%.
Alterity Therapeutics (ASX:ATH) raced away by 15% this morning, after announcing the granting of a new US patent for its compounds to treat neurodegenerative diseases, including Parkinson’s and Alzheimer’s.
The patent covers more than 80 novel compounds, and secures exclusivity for a new class of iron chaperones designed to redistribute the excess iron complications in neurodegenerative diseases.
The patent will also provide Alterity with exclusivity through to 2041, giving the company a strong basis for drug development and commercialisation for these debilitating diseases.
“We continue to identify new drug candidates to expand our portfolio and protect our therapeutic approach to address neurodegeneration,” said Dr. David Stamler, CEO of Alterity.
“With the granting of this patent and another composition of matter patent last year, we are establishing a strong foundation as a leader in targeting iron for potential disease modifying therapy for important neurodegenerative diseases such as Parkinson’s and Alzheimer’s.”
Alterity’s lead asset, ATH434, has the potential to treat various neurodegenerative disorders like Parkinson’s and Alzheimer’s..
Imugene (ASX:IMU) has received a notice grant from the South Korean patent office for its HER-Vaxx immunotherapy to treat HER-2 positive gastric cancer.
The patent provides method of composition and method of use protection for Imugene until 2036.
South Korea has one of the highest incidence rates of gastric cancer worldwide, with approximately one in five cases considered HER2 positive. Approximately 75% of all gastric cancer diagnoses are in Asia.
“Attaining the key South Korean patent, on top of gaining protection in Japan and China in 2021, is a very important milestone,” said Imugene’s CEO, Leslie Chong.
Imugene’s HER-Vaxx is a B-cell activating immunotherapy designed to treat tumours that over-express the HER-2/neu receptor, such as gastric, breast, ovarian, lung and pancreatic cancers.
It has been shown in pre-clinical, Phase I and now Phase 2 studies to stimulate a potent polyclonal antibody response to HER-2/neu, a well-known and validated cancer target.
Following its CE Mark and registration of ColoSTAT in Europe in November, cancer diagnostics tech company Rhythym Biosciences (ASX:RHY) has now expanded the CE Mark registration to the UK.
In addition, the UK regulator has also accepted Rhythm’s application as a registered manufacturer of IVD (in-vitro diagnostic device) products.
This allows its colorectal cancer detection technology product, ColoSTAT , to be marketed and sold within Great Britain (England, Wales and Scotland), and Northern Ireland.
Rhythm says Europe and the UK represent a significant addressable screening population for ColoSTAT of over 231 million people, with a potential combined value of around US$12 billion.