Allon Therapeutics Inc.
TSX : NPC

Allon Therapeutics Inc.

January 15, 2008 09:30 ET

Preclinical Studies Show Allon's Drug AL-108 Impacts Alzheimer's Pathology and Behaviour

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 15, 2008) - Allon Therapeutics Inc. (TSX:NPC), The Neuro Protection Company™, announced today preclinical data which demonstrates that the Company's drug AL-108 reduces the physical brain damage associated with the pathological hallmarks of Alzheimer's disease (AD) and improves the behavioural capacity to learn and retain memory.

The new preclinical study results were presented at an AD conference in Austria by Professor Illana Gozes, Allon's Chief Scientific Officer. The oral presentation was given in Zurs, Austria at the 4th International Winter Conference on Alzheimer's disease: "Current status and future perspectives of therapy for AD".

The new data adds to Allon's extensive preclinical foundation for three ongoing Phase II clinical trials on which the Company will report efficacy results in 2008. The first of these reports will occur during the First Quarter from a trial evaluating the safety, tolerability and effect of AL-108 (intranasal administration) on patients with amnestic mild cognitive impairment (aMCI), a precursor of AD.

Dr. Gozes said the study was carried out in a triple transgenic model of AD, the most relevant and severe animal model of AD. The triple transgenic model progressively develops both hallmarks of AD: beta-amyloid plaques and neurofibrillary tangles. The data were generated in collaboration with Paul Aisen and Yasuji Matsuoka at Georgetown University in Washington, D.C.

Allon has previously shown that AL-108 significantly reduces both the accumulation of beta-amyloid peptide and hyperphosphorylation of tau protein that result in beta-amyloid plaques and neurofibrillary tangles, respectively. The new data extends these findings to demonstrate that animals treated with AL-108 improve their performance on tasks of learning and memory, the most critical behavioural outcomes for AD.

"This latest data in our substantial compilation of preclinical research once again shows the potential of AL-108 as a treatment for the causes of Alzheimer's disease and other neurodegenerative diseases," Gozes said. "We are particularly excited about the improvement in both the pathology and cognition in what is probably the hardest AD model."

This study was conducted on triple transgenic mice, bred to develop beta-amyloid plaques and neurofibrillary tangles and to exhibit behavioural deficits associated with AD. The model harbours three mutant genes: beta-amyloid precursor protein (Swedish), presenilin-1 (M146V) and Tau (P301L). This model is generally considered to be the most challenging of AD animal models.

This study demonstrated that AL-108 treatment of triple transgenic mice causes a significant improvement in the performance of tasks involving spatial learning and memory as well as a statistically significant decrease in the level of beta-amyloid plaques of 20% and a 70% reduction in tau phosphorylation.

New data were also presented to the conference on the efficacy of AL-108 in mice that are bred to be 50% deficient in activity-dependent neuroprotective protein (ADNP). ADNP occurs naturally in the brain and Allon drugs AL-108 and AL-208 are both derived from this protein.

This study demonstrated that ADNP-deficient mice exhibit hyperphosphorylation of tau protein in their brains and significant cognitive impairment. The results demonstrate that treatment with AL-108 improves the cognitive performance of these mice such that they exhibit near-normal behaviour.

In conjunction with this presentation, the ADNP data were recently published in the Journal of Pharmacology and Experimental Therapeutics (volume 323, pp 438-449).

About Allon

Allon Therapeutics Inc. is a clinical-stage biotechnology company developing treatments for major neurodegenerative conditions. Allon has three Phase II human efficacy trials under way pursuing three large underserved markets: Alzheimer's disease, stroke and cognitive impairment associated with schizophrenia. The Company is listed on the Toronto Stock Exchange under the trading symbol "NPC" (Neuroprotection Company™) and based in Vancouver. For additional information please visit the Company's website: www.allontherapeutics.com.

Forward Looking Statements

There are forward-looking statements contained herein that are not based on historical fact, including without limitation statements containing the words "believes", "may", "plans", "will", "estimate", "continue", "anticipates", "intends", "expects", and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, among others, Allon's stage of development, lack of product revenues, additional capital requirements, risks associated with the completion of clinical trials and obtaining regulatory approval to market Allon's products, the ability to protect its intellectual property and dependence on collaborative partners. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments.

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