Alterity Therapeutics (ASX:ATH) has announced the granting of a new composition of matter patent and exclusive license agreement for assets in Alzheimer’s Disease.

The patent covers more than 100 novel compounds targeting neurodegenerative diseases, and is sub-licensed to Professor Colin Masters for evaluation in Alzheimer’s and related diseases.

Alterity Therapeutics says it's also entitled to future royalties of net sales from the assets.

It says the  patent may lead to novel treatments for Alzheimer’s Disease, a neurological disorder that affects over 50M people worldwide.