Allon Therapeutics Inc.

Allon Therapeutics Inc.

March 07, 2007 11:22 ET

Allon Product AL-108 Successful in Phase Ib Clinical Trial

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 7, 2007) - Allon Therapeutics Inc. (TSX:NPC), The Neuro Protection Company™, announced today that the results of the completed Phase Ib clinical trial of their product AL-108 met all of its objectives. The trial confirmed that AL-108 is safe and well tolerated in 32 healthy elderly subjects after seven days of dosing.

In addition to demonstrating the safety of AL-108 upon repeat administration, the trial provided the following pharmacokinetic information:

- AL-108 shows dose-dependent drug exposure in treated individuals;

- A half-life consistent with daily or twice daily dosing;

- A pharmacokinetic profile which supports the long-term use of AL-108; and

- Blood concentrations, when compared to preclinical pharmacodynamic models, would be expected to be efficacious in the ongoing Phase II trials.

"These results are quite positive and validate the intranasal use for AL-108. Moreover, the pharmacokinetic profile is sufficiently robust to confirm the doses selected in the multiple Phase II trials now underway," said Dr. Bruce Morimoto, Vice-President Drug Development at Allon.

AL-108 is currently being evaluated in a Phase II efficacy trial as part of Allon's Alzheimer's program. This trial is expected to complete enrolment at the end of 2007. Also, AL-108 was recently selected by the National Institute of Mental Health funded project TURNS (Treatment Unit for Research of Neurocognition in Schizophrenia) for another Phase II efficacy trial evaluating it as a treatment for Schizophrenia related cognitive impairment.

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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