Allon Therapeutics Inc.

Allon Therapeutics Inc.

October 24, 2007 08:30 ET

Allon to Participate at Two Major Conferences

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 24, 2007) - Allon Therapeutics Inc. (TSX:NPC), The Neuro Protection Company™ announced today that it will be participating this week at the prestigious Windhover Therapeutics Area Partnership conference, Allon had been selected by an expert panel as one of the "Top 10" not yet partnered neuro programs in the world. The conference is one of the industry's most targeted partnering meeting in the therapeutic area, and is scheduled to take place October 24th to 26th, 2007 at the Loews Hotel, in Philadelphia, Pennsylvania. Participation at the conference is by invitation only.

The expert panel, led by Dr. Harry Tracy, President and editor of the highly respected biotechnology publication Neuroinvestment, will be giving a specific presentation on the Companies they selected and covering the "Neuro" drug and partnering space in general.

In addition, Allon will be presenting at the 9th Rodman & Renshaw Healthcare conference, regarded as one of the premier finance and investment conferences in North America. Gordon McCauley, President and CEO of Allon, will be presenting on Monday, November 5th, 2007 at 4:25pm EST at the New York Palace Hotel, located at 455 Madison Avenue.

"Both of these conferences offer Allon the opportunity to increase awareness about the Company's clinical programs as Allon advances towards releasing data from the first of three Phase II efficacy trials in Q1 08," said Gordon McCauley, President and CEO of Allon. "Windhover will provide Allon with the opportunity to continue our engagement with pharma partners, while the Rodman and Renshaw conference further broadens the Company's awareness into the investment community in the United States."

To access the Company's presentation via webcast please use this link:

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 Rodman & Renshaw

Rodman & Renshaw is a full-service investment bank dedicated to providing investment banking services to companies that have significant recurring capital needs due to their growth and development strategies. We also provide research and sales and trading services to institutional investor clients that focus on such companies. Since 2003, Rodman has been a leading investment banking firm to the biotechnology sector, a capital intensive market segment, as well as a leader in the PIPE (private investment in public equity) and RD (registered direct placements) transaction markets.

About Allon

Allon Therapeutics Inc. is a clinical-stage biotechnology company developing treatments for major neurodegenerative conditions. Allon has 3 Phase II human efficacy trials underway pursuing three large underserved markets: Alzheimer's disease, schizophrenia and cognitive impairment. The Company is listed on the Toronto Stock Exchange under the trading symbol "NPC" (Neuroprotection 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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