Alterity Therapeutics (ASX: ATH) has appointed Dr David Stamler to lead the company as chief executive officer and spearhead the company’s commercialisation plans for drug ATH434 in treating parkinsonian diseases.
Dr Stamler has been with Alterity since June 2017 and will replace Geoffrey Kempler who founded the company in 1997.
Mr Kempler remains with Alterity as a non-executive chairman and will be available in a consulting capacity.
“It’s been a great privilege to work towards improving the lives of millions of people suffering from neurodegenerative diseases,” Mr Kempler said.
“I have had the honour of working with teams of very dedicated scientists and clinicians for many years.”
Mr Kempler added he was “delighted” the “enormously talented” Dr Stamler has stepped up into the role of chief executive officer to lead the company in advancing its treatments for Parkinsonian diseases.
Pharmaceutical development and commercialisation experience
Newly appointed chief Dr Stamler has worked with Alterity as chief medical officer and vice president of clinical development for more than three years.
In additional to his time at Alterity, Dr Stamler has “significant” experience in pharmaceutical development and commercialisation.
This includes securing three new drug approvals with the US Food and Drug Administration in the neurological space.
Alterity noted Dr Stamler’s chief executive officer appointment aligns with the company’s commercialisation plans with its lead compound ATH434 about to undergo phase 2 clinical trials.
Dr Stamler said he was “excited” by Alterity’s novel technology for treating neurodegenerative diseases.
“We are at an important juncture as we move into later stage clinical trials for our lead compound ATH434 and I look forward to now leading the business as chief executive officer and advancing our commercialisation program,” he added.
Phase 1 clinical trials evaluated the safety, tolerability, and pharmacokinetics of ATH434 in healthy adult and older adult volunteers.
The trial demonstrated ATH434 can cross the blood brain barrier, while being well-tolerated and safe.
With ATH434, Alterity is attempting to treat the underlying causes of parkinsonian diseases – particularly multiple system atrophy (MSA).
Alterity believes ATH434 has the potential to improve most of the symptoms including motor, blood pressure, gait, balance, plus bowel and bladder dysfunction.