Allon Therapeutics Inc.

Allon Therapeutics Inc.

June 12, 2007 08:30 ET

Allon Granted US Patent for Composition of Matter

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 12, 2007) - Allon Therapeutics Inc. (TSX:NPC), The Neuro Protection Company™, announced today that it has been granted a US patent covering additional composition of matter for the products in the ADNP platform, which broadens the intellectual property of Allon's patent portfolio.

Gordon McCauley, President and CEO of Allon, said these claims provide further independent validation of the unique and important nature of these highly novel neuroprotective peptides.

"Being granted these patents from the United States Patent and Trademark Office further validates and supports Allon's strength in the field of neuroprotection and broadens the protection of our portfolio in clinical development," McCauley said.

The allowed claims relate to the nucleic acid composition of Allon's drug candidates AL-108 and AL-208, which are both currently being evaluated in Phase II human efficacy trials. This new patent will strengthen Allon's intellectual property estate which includes 10 families and 30 issued patents worldwide.

The Company has three Phase II clinical efficacy programs. AL-108 is being evaluated in two separate trials, one for Alzheimer's disease and another for schizophrenia related cognitive impairment. AL-208 is being evaluated as a treatment for the mild cognitive impairment associated with coronary artery bypass graft (MCI-CABG) surgery.

Allon's compounds have a unique mechanism of action and have been shown to be effective in treating the underlying causes of more than ten brain diseases and conditions. Drugs on the market today treat only the symptoms - not the causes - of these diseases and injuries.

Professor Illana Gozes, an internationally acclaimed neuroscientist, is one of the inventors of this class of compounds. Prof. Gozes is the founding scientist of Allon.

About Allon

Allon Therapeutics Inc. is a clinical-stage Canadian biotechnology company developing drugs that protect against neurodegenerative conditions, which impact the body's central nervous system. Allon has three Phase II clinical programs in Alzheimer's disease, mild cognitive impairment associated with coronary artery bypass graft (MCI-CABG) surgery and Schizophrenia related cognitive impairment. 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:

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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