Alterity reshapes board as it prepares for phase III trial in MSA

• Alterity announces board changes ahead of its AGM, positioning biotech for next growth phase
• Founding shareholder, former CEO and current non-executive chairman Geoffrey Kempler retires 
• CEO Dr David Stamler appointed managing director with Julian Babarczy to be non-executive chair

Special Report: Alterity Therapeutics has announced a series of board changes ahead of its AGM today, positioning the biotech for its next phase of growth as it moves toward phase III clinical development.

Alterity Therapeutics (ASX:ATH) said founding shareholder, former CEO and current non-executive chairman Geoffrey Kempler would retire from the board. 

Kempler’s retirement closes a significant chapter in Alterity’s history. He established the company  (formerly Prana Biotechnology) more than two decades ago, building it from a pioneering research venture into an internationally recognised, clinical-stage biotech focused on neurodegenerative diseases. 

The board thanked Kempler for his long-standing leadership, which supported its strategy of targeting important unmet needs in neurology. 

Alterity has built a robust intellectual property portfolio and successfully progressed lead asset ATH434 to phase III planning for Multiple System Atrophy (MSA), an aggressive Parkinsonian disorder with currently no approved therapy.  

Long-serving non-executive director Brian Meltzer will also retire after 26 years with the company, as part of a planned succession approach. 

The board also acknowledged Meltzer’s extensive contributions throughout Alterity’s growth.

Kempler said it had been an honour to lead the company since inception and that the transition would allow a new generation of leaders to advance Alterity’s strategy. 

“With the company entering an exciting stage of late-phase development, and with several long-serving directors, including myself and Mr Meltzer, retiring, we are enabling a new generation of leaders to guide Alterity’s strategic vision and execution,” he said. 

“I look forward to supporting Alterity as a committed shareholder and in a consulting capacity through an important transition period.”

Watch: Alterity’s ATH434 shows US$2.4b potential for treating MSA

CEO appointed managing director with new chair appointment

As part of the refreshed governance structure, CEO Dr David Stamler has been appointed managing director, with his remuneration remaining unchanged. 

Stamler has been central to Alterity’s clinical and strategic progress since joining in 2017 and brings more than 30 years’ pharmaceutical industry experience. 

He has guided three central nervous system (CNS) drugs through the US Food and Drug Administration (FDA) approval process. 

Alterity has also appointed experienced funds management executive Julian Babarczy as non-executive chair.

Babarczy has more than 25 years’ investment and capital markets experience and serves on several ASX boards. 

Alterity said he brought deep expertise in evaluating and supporting high-growth companies, capabilities considered crucial as Alterity advances toward late-stage clinical development.

The board changes aim to strengthen governance, broaden the company’s leadership expertise, and support its ambition to deliver meaningful clinical and commercial outcomes for patients and shareholders. 

Kempler and Meltzer’s resignations are effective at 5pm AEDT today, with Stamler’s and Babarczy’s appointments taking effect immediately following the AGM.

This article was developed in collaboration with Alterity Therapeutics, a Stockhead advertiser at the time of publishing. 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.