Allon Therapeutics Inc.

Allon Therapeutics Inc.

May 18, 2006 08:30 ET

Scientific Paper Confirms Mechanism of Allon's Drugs

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 18, 2006) - Allon Therapeutics Inc. (TSX:NPC), The Neuro Protection Company™, today announced that results of a preclinical study published in the Journal of Molecular Neuroscience demonstrate that the cellular mechanism that gives neuroprotective properties to its clinical-stage products also occurs in the Company's pipeline of preclinical-stage product candidates.

Dr. Illana Gozes, Chief Scientific Officer of Allon and the corresponding author for the study, said the neuroprotective activity of the Company's clinical-stage products has been established in earlier studies, but the new published results confirm the earlier results and demonstrate that this activity extends to all the Company's compounds.

"These published results are exciting because they imply broad neuroprotective activity of all of Allon's proprietary compounds to protect neurons against multiple degenerative diseases and injuries," said Dr. Gozes.

The published study shows that Allon's proprietary compounds, ADNF-9 (AL-209), D-NAP (AL-408) and D-ADNF-9 (AL-309) bind to and interact with tubulin, the proteins that form microtubules. Microtubules are the communication pathways inside nerve cells (neurons). Assembly of microtubules is essential for the ongoing regeneration of the nervous system and for combating neurodegenerative diseases.

Allon derived its first and second products, AL-108 and AL-208, from NAP. The Company has also derived several promising product candidates from ADNF-9, including AL-309 which is now undergoing pre-clinical studies.

AL-108 is being evaluated in Phase I human clinical trials as a treatment for Alzheimer's disease. AL-208 is in Phase I human clinical trials and at mid-year will enter a Phase II human clinical trial to be evaluated as a treatment for the mild cognitive impairment (MCI) associated with coronary artery bypass graft (CABG) surgery.

Allon's compounds have shown efficacy in 14 different pre-clinical models of eight central nervous system diseases, disorders or injuries.

Allon is developing drugs that protect against and treat the causes of neurodegenerative conditions. Currently available therapies treat only the symptoms of neurodegenerative diseases and have an annual market value of approximately $24.4 billion. Many of these illnesses are age-related and their impact will grow as the elderly population increases.

About Allon

Allon Therapeutics Inc. is a Canadian biotechnology company developing drugs that protect against neurodegenerative conditions such as Alzheimer's disease, mild cognitive impairment, stroke, traumatic brain injury, multiple sclerosis and neuropathy. The company is listed on the Toronto Stock Exchange under the trading symbol "NPC" (Neuro Protection Company) and based in Vancouver.

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