Allon Therapeutics Inc.

Allon Therapeutics Inc.

August 21, 2007 09:30 ET

Allon Named "Top 10" Partnering Candidate by Expert Conference

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 21, 2007) - Allon Therapeutics Inc. (TSX:NPC), The Neuro Protection Company™, announced today that its Alzheimer's program has been selected as one of the top 10 not yet partnered biotech programs in the world and the company will present at the prestigious Windhover Therapeutics Area Partnership conference. The conference is the industry's most targeted partnering meeting, and is scheduled to take place October 24th to 26th, 2007 at the Loews Hotel, in Philadelphia, Pennsylvania. Presentations at the conference are by invitation only.

Dr. Harry Tracy, PhD, editor and founder of the NeuroInvestment Research publication led the expert panel through the selection process and review of hundreds of companies. Dr. Tracy has been an industry leader in identifying promising biotech companies and providing extensive research for the investment community for a number of years.

Gordon McCauley, President and CEO of Allon, said the invitation to present is reflective of the increasing attention being paid to its three ongoing Phase II clinical trials that will each report human efficacy data over the next year.

"It is an honour to be selected by the expert panel to present at the Windhover conference, and a testament to the clinical progress and business development advances our team has made." McCauley said. "Choosing the right partner is a critical task and the next few months are some of the most important in this evaluation process as we progress towards human efficacy data."

Allon was selected as a "Top 10 Neuroscience" company and will present the Company's clinical programs, previous trial results, intellectual property, and competitive advantages in the marketplace.

The Company's product AL-108 is being evaluated as a treatment for Alzheimer's disease and also in a separate Phase II trial funded by the National Institute of Mental Health project TURNS (Treatment Units for Research on Neurocognition and Schizophrenia) evaluating AL-108 as a treatment for schizophrenia-related cognitive impairment. Allon's third Phase II trial is evaluating a second product, AL-208 as a treatment for the mild cognitive impairment associated with coronary artery bypass graft surgery.

About Windhover

Windhover Information's 2nd Annual Therapeutic Area Partnerships is the industry's most targeted and efficient partnering meeting for life science companies seeking partnerships in the top therapeutic areas: Oncology, Cardiovascular/Metabolic and Neuroscience. Decision-makers (business development and R & D) focusing on these therapeutic categories can meet to develop strategic alliances between their companies. For additional information please visit the website at:

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:

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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