Allon Therapeutics Inc.
TSX : NPC

Allon Therapeutics Inc.

August 28, 2007 09:30 ET

Allon Appoints Vice-President of Business Development

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 28, 2007) - Allon Therapeutics Inc. (TSX:NPC), The Neuro Protection Company™, announced today the appointment of Dr. Annette Kleiser as Vice-President of Business Development for the Company. Dr. Kleiser, an internationally recognised pharmaceutical executive joins Allon from Epigenomics in Seattle where she held a similar position and prior to that was with Amgen, a global pharmaceutical company.

Dr. Kleiser's accomplishments include the full range of business development activities essential in biotechnology including in licensing, out licensing, technology transfer, and mergers and acquisitions. Dr. Kleiser trained in neurophysiology at the University of Washington and the Ludwig-Maximillians University in Munich where she completed her doctorate.

"Annette's experience and expertise are a great complement to our management team and that will help progress Allon's business development activities on a number of fronts," said Gordon McCauley, President and CEO of Allon. "In particular, Dr. Kleiser's appointment is an important step as we continue down the path of identifying the right partner for our programs, and seeking out additional opportunities that will create value for our shareholders."

At Allon, Dr. Kleiser will lead the Company's strategic business development initiatives and will work closely with the Company's existing external advisors.

"Joining a company with the calibre of Allon's management team, combined with the broad opportunity that exists through the novel compounds in Phase II development, is a very exciting challenge. I look forward to adding value to the ongoing business development initiatives at Allon," said Dr. Kleiser.

About Allon

Allon Therapeutics Inc. is a clinical-stage Canadian biotechnology company developing drugs that protect against neurodegenerative conditions such as Alzheimer's, 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. 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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