Kinacia CEO Murdoch joins Prana

Kinacia's chief executive officer Dr Ross Murdoch has jumped ship to join Alzheimer's disease treatment developer Prana Biotechnology (ASX: PBT) in a newly created role.

Murdoch has already begun working as chief operating officer at Prana in a part-time capacity while Kinacia finalises the appointment of his replacement.

In a statement to the Australian Stock Exchange, Prana's executive chairman Geoffrey Kempler said Murdoch would oversee the company's operational activities including science project coordination, intellectual property development and contract negotiation with institutions and scientists.

"We are pleased that Dr Murdoch has joined the Prana team," Kempler said.

"His experience in pharmaceutical project management will be invaluable as Prana proceeds with its Phase II/III Alzheimer's disease clinical trials."

The company also announced late last month that it had begun steps to list in the United States on the Nasdaq in the near future.

Murdoch has spent almost 15 years in the pharmaceutical industry, and before Kinacia headed AstraZeneca's Global Clinical Project Management.

He has also worked as Cardiovascular Therapeutics director at Astra Pharmaceuticals, and with SmithKline Beecham as Strategic Projects Manager and Global Drug Development director.

Murdoch said he was attracted to Prana's project pipeline and its progressive plans to move forward into global markets.

"Prana I think is a very exciting company and the opportunity to be associated with a company that can potentially bring forward treatments to put off and possibly cure Alzheimer's and other neurological diseases like that is very exciting," Murdoch said.

He said the role of chief operating officer had been created as the business moved away from its current form as a virtual company.

"The role will require me to start building infrastructure, strengthening the pipeline it has got and building the company from where it is."

Murdoch said he was still negotiating with Kinacia over a finishing date with the kinase and blood-clotting drugs company before he began working full-time with Prana.

He said a new CEO at Kinacia had been selected, but declined to name his successor until the details had been finalised.