Allon Therapeutics Inc.

Allon Therapeutics Inc.

June 17, 2008 08:45 ET

Allon Therapeutics Human Efficacy Data to Be Featured at World's Leading Alzheimer's Disease Conference

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 17, 2008) - Allon Therapeutics Inc. (TSX:NPC) announced today it has been selected to present a summary of its Phase IIa efficacy data in patients with amnestic mild cognitive impairment (aMCI), a precursor to Alzheimer's disease, at a news conference of the International Conference on Alzheimer's Disease and Related Disorders (ICAD 2008) in Chicago July 28, 2008.

Allon data will also be presented at three scientific sessions at the five-day conference organized by the Alzheimer's Association, the leading U.S. voluntary health organization in Alzheimer's care, support and research. The conference will bring together more than 5,000 researchers, physicians and care providers from 60 countries - the largest group of international leaders in Alzheimer research and care ever convened.

Gordon McCauley, President and CEO of Allon, said Allon's drug AL-108 is one of four Alzheimer's disease projects to be highlighted at the news conference.

"The ICAD 2008 organizers selected new developments in understanding Alzheimer's disease therapies for this news briefing based on their assessment of newsworthiness and scientific significance," said McCauley. "AL-108 is the most advanced drug in clinical development targeting neurofibrillary tangles, a classic hallmark of Alzheimer's."

The Phase IIa data will be summarized at the news conference by Dr. Donald E. Schmechel, the principal investigator of the trial. Dr. Schmechel is an adjunct Professor of Medicine (Geriatics) at Duke University Medical Center in Durham, North Carolina, and the Medical Director of The Falls Neurological and Memory Center at the Caldwell Memorial Hospital.

Allon's Phase IIa clinical trial of AL-108 in patients with aMCI demonstrated statistically significant, dose-dependent and durable improvements on key endpoints that measure short-term recall and working memory - two types of memory that are clinically relevant in Alzheimer's disease. The trial also demonstrated that AL-108 was safe and well tolerated by patients.

About Allon's neuroprotective platforms

Allon's two neuroprotective technology platforms are based on two naturally occurring proteins secreted by the brain in response to a range of insults. The platforms are activity-dependent neuroprotective protein (ADNP) and activity-dependent neurotrophic factor (ADNF). Because the two platforms are based on different proteins, the drugs from each are different molecules with different therapeutic mechanisms and distinct commercial opportunities. Clinical-stage drugs AL-108 and AL-208 are derived from ADNP, while preclinical stage drug AL-309 is derived from ADNF.

About Allon

Allon Therapeutics Inc. is a clinical-stage biotechnology company developing treatments for major neurodegenerative conditions. In Q1 2008, Allon's drug AL-108 demonstrated human efficacy in amnestic mild cognitive impairment, a precursor to Alzheimer's disease. Allon has Phase II human efficacy programs pursuing three large underserved markets: Alzheimer's disease, stroke 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

Statements contained herein, other than those which are strictly statements of historical fact may include forward-looking information. Such statements will typically contain words such as "believes", "may", "plans", "will", "estimate", "continue", "anticipates", "intends", "expects", and similar expressions. While forward-looking statements represent management's outlook based on assumptions that management believes are reasonable, forward-looking statements by their nature are subject to 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 them. Such factors include, among others, the inherent uncertainty involved in scientific research and drug development, Allon's early stage of development, lack of product revenues, its additional capital requirements, the risks associated with successful completion of clinical trials and the long lead-times and high costs associated with obtaining regulatory approval to market any product which Allon may eventually develop. Other risk factors include the limited protections afforded by intellectual property rights, rapid technology and product obsolescence in a highly competitive environment and Allon's dependence on collaborative partners and contract research organizations. These factors can be reviewed in Allon's public filings at www. and should be considered carefully. Readers are cautioned not to place undue reliance on such forward-looking statements and Allon disclaims any obligation to update or announce changes in any such factors except in its periodic filings.

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