Allon Therapeutics Inc.

Allon Therapeutics Inc.

November 01, 2006 09:15 ET

Allon Completes Dosing for AL-108 Phase Ib Clinical Trial

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 1, 2006) - Allon Therapeutics Inc. (TSX:NPC), The Neuro Protection Company™, today announced that dosing has been completed in a Phase Ib human clinical trial evaluating the Company's product AL-108 as a treatment for Alzheimer's disease.

The Phase Ib trial is a double-blind, placebo-controlled, randomized study to evaluate the safety, tolerability, and pharmacokinetics of seven days of daily repeated intranasal administration of AL-108 in healthy, elderly subjects. The Company remains on track to commence a Phase II trial in an Alzheimer's condition before the end of 2006.

Gordon McCauley, President and CEO of Allon, said the trial is another demonstration of consistent progress in the Company's drug development programs. "This trial keeps our AL-108 Alzheimer's program moving into Phase II clinical efficacy trials and complements our ongoing Phase II trial with AL-208 in patients with mild cognitive impairment following coronary artery bypass graft surgery."

Allon has shown in preclinical studies that AL-108 is effective in targeting both amyloid plaques and neurofibrillary tangles in the brain, two pathologies most closely correlated with Alzheimer's disease in humans. No drug on the market today has any impact on these plaques and tangles. Rather, drugs on the market today treat only the symptoms of Alzheimer's - that is, they slow memory loss or modify emotional volatility or treat other behavioral symptoms.

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.

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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