Prana names new CMO to lead clinical development

David Stamler has joined Australia’s Prana Biotechnology (ASX: PBT) as chief medical officer and senior vice president, clinical development, based in San Francisco.

Prior to joining Prana, Dr Stamler worked for Israel’s Teva Pharmaceutical Industries (NYSE TEVA), as part of Teva’s $3.5 billion acquisition of Auspex Pharmaceuticals. Dr Stamler led the development of a new drug for the treatment of Huntington’s disease, which was approved by the US Food and Drug Administration in April this year. This was the second neurological agent that Dr Stamler has led through the approval process with the FDA.

Dr Stamler’s appointment follows a detailed review of the pharmaceutical assets and strategy at Prana over the last six months and marks a refocus on prioritizing PBT434 for the treatment of parkinsonian movement disorders. PBT434 is a first-in-class therapy planned to enter Phase I clinical trials later this year.