Allon Therapeutics Inc.
TSX : NPC

Allon Therapeutics Inc.

March 11, 2011 08:31 ET

Allon Announces Presentation of Davunetide Data During 10th International Conference on Alzheimer's and Parkinson's Disease

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 11, 2011) - Allon Therapeutics Inc. (TSX:NPC) announced today that clinical and research data on the impact of the Company's lead drug candidate davunetide, on Parkinson's disease and other neurodegenerative conditions, are being presented during two sessions of the 10th International Conference on Alzheimer's and Parkinson's Disease this week in Barcelona, Spain.

Dr. Sandra Cardoso, from the Centre of Neurosciences and Cellular Biology at the University of Coimbra in Portugal, will present new data on the mechanisms of disease in Parkinson's. Specifically, Dr. Cardoso will explain how protein clearance dysfunctions result in the build-up of protein aggregates. The presentation includes data demonstrating davunetide's ability to promote microtubule stability and prevent alpha-synuclein aggregation in cells which model Parkinson's disease.

This molecular analysis confirms the research conducted by Prof. Marie-Françoise Chesselet at the University of California, Los Angeles (UCLA) that was recently published in the online edition of Molecular and Cellular Neuroscience and announced by Allon on February 2, 2011. Dr. Cardoso's study also builds on the body of data published by Allon's founding scientist, Professor Illana Gozes, demonstrating the central role of microtubule biochemistry in the activity of davunetide.

Prof. Gozes will present data showing how davunetide repairs microtubules and protects cells against the pathological insults associated with various neurodegenerative disorders.

Prof. Gozes' presentation will highlight the human data obtained from the Company's clinical trials over the past three years and the preclinical data that underpins Allon's clinical development program. The human data includes statistically significant human efficacy demonstrated in tests of memory function, activities of daily living, and on a biomarker of brain cell health can function.

The International Conference on Alzheimer's & Parkinson's Disease is held every two years and is the leading international meeting for scientists and clinicians interested in unraveling the mechanisms and improving the treatment of Alzheimer's and Parkinson's. Attendance at the 2011 conference is expected to exceed the 2,346 professionals who attended the 9th annual session.

About davunetide

Allon is currently enrolling patients in a pivotal Phase 2/3 clinical trial evaluating davunetide as a potential treatment for progressive supranuclear palsy (PSP), a rapidly-progressing and fatal movement disorder with dementia which is often misdiagnosed as Parkinson's or Alzheimer's disease. Allon reached agreement on a Special Protocol Assessment with the U.S. Food and Drug Administration, as well as Orphan Drug and Fast Track Status in the U.S. Similarly, Allon has Orphan Status for davunetide in the EU.

Davunetide is derived from a naturally occurring neuroprotective brain protein known as activity dependent neuroprotective protein (ADNP). Allon's human clinical and pre-clinical data suggest that davunetide works on microtubules, structures in the brain critical to communication between cells, and central to the tau pathway. Davunetide has shown statistically significant impacts on memory, activities of daily living, and a biomarker of brain cell function and integrity. Allon has extensive intellectual property protecting davunetide.

About Allon's neuroprotective platforms

Allon's two neuroprotective technology platforms are based on two naturally occurring proteins produced by the brain in response to a range of insults. The platforms are activity-dependent neuroprotective protein (ADNP) and activity-dependent neurotrophic factor (ADNF).

Because the two platforms are based on different proteins, the drugs from each are different molecules with different therapeutic mechanisms and distinct commercial opportunities. Clinical-stage drugs based on davunetide are derived from ADNP, while preclinical stage drug AL-309 is derived from ADNF. Davunetide is focused on Alzheimer's disease, cognitive impairment associated with schizophrenia, and progressive supranuclear palsy (PSP). AL-309 is being developed for the treatment of peripheral neuropathies and is administered orally or subcutaneously.

About Allon

Allon Therapeutics Inc. is a clinical-stage biotechnology company focused on bringing to market innovative central nervous system therapies. Allon's lead drug davunetide, is proceeding in a pivotal Phase 2/3 clinical trial in an orphan indication, progressive supranuclear palsy (PSP), under an SPA with the FDA. This pivotal trial is based upon statistically significant human efficacy demonstrated in amnestic mild cognitive impairment, cognitive impairment associated with schizophrenia, and positive biomarker data.

The Company is listed on the Toronto Stock Exchange under the trading symbol "NPC" (Neuro Protection Company™) and based in Vancouver.

Forward Looking Statements

Statements contained herein, other than those which are strictly statements of historical fact may include forward-looking information. Such statements will typically contain words such as "believes", "may", "plans", "will", "estimate", "continue", "anticipates", "intends", "expects", and similar expressions. While forward-looking statements represent management's outlook based on assumptions that management believes are reasonable, forward-looking statements by their nature are subject to 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 them. Such factors include, among others, the inherent uncertainty involved in scientific research and drug development, Allon's early stage of development, lack of product revenues, its additional capital requirements, the risks associated with successful completion of clinical trials and the long lead-times and high costs associated with obtaining regulatory approval to market any product which Allon may eventually develop. Other risk factors include the limited protections afforded by intellectual property rights, rapid technology and product obsolescence in a highly competitive environment and Allon's dependence on collaborative partners and contract research organizations. These factors can be reviewed in Allon's public filings at www.sedar.com and should be considered carefully. Readers are cautioned not to place undue reliance on such forward-looking statements. Similarly, nothing in this press release is meant to promote a pharmaceutical product or make a regulated claim of efficacy.

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