Allon Therapeutics Inc.

Allon Therapeutics Inc.

March 15, 2007 09:15 ET

Allon to Present Data at Alzheimer's-Parkinson's Conference

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 15, 2007) - Allon Therapeutics Inc. (TSX:NPC), The Neuro Protection Company™, today announced that Professor Illana Gozes, the Company's Chief Scientific Officer, has been invited to speak to the 8th International Conference on Alzheimer's and Parkinson's Diseases in Salzburg, Austria March 18, 2007. More than 1,800 Alzheimer's and Parkinson's physicians and researchers from around the world will be attending the conference.

Conference sponsors say that the Alzheimer's-Parkinson's conference is unique in the scientific community because it deals with issues of each of the diseases as well as the issues that are common between them and other neurodegenerative diseases.

Prof. Gozes will present highlights of Allon's preclinical data demonstrating that the Company's compounds act on a fundamental mechanism that is common to many neurodegenerative diseases and insults including Alzheimer's disease and Parkinson's disease. Allon's compounds have been shown to prevent and treat the causes of nine different diseases and conditions in 15 preclinical animal models. Drugs on the market today treat only the symptoms - not the causes - of these diseases.

"The fundamental mechanism by which our drugs work presents us with considerable clinical opportunity and the pre-clinical data that we are presenting at this major meeting further substantiates this opportunity," says Prof. Gozes.

Allon's two platforms of neuroprotective compounds are based on naturally-occurring brain proteins called activity-dependent neuroprotective protein (ADNP) and activity-dependent neurotrophic factor (ADNF). The Company's products AL-108 and AL-208 are being evaluated in Phase II human clinical trials.

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.

The Company announced earlier in 2007 that it had received funding from The Michael J. Fox Foundation for Parkinson's Research (MJFF) to evaluate AL-108 in preclinical models as a potential treatment of Parkinson's disease. The studies are under way and, if positive, Allon would be in a position to begin a Phase II clinical trial to evaluate the drug's effectiveness in Parkinson's patients as early as 2008.

The Company recently announced AL-208 had progressed into the randomized portion of its Phase II human clinical trial evaluating it as a treatment for Mild Cognitive Impairment (MCI) that commonly occurs following coronary bypass graft (CABG) surgery. This trial is expected to be completed in the second half of 2007.

About Allon

Allon Therapeutics Inc. is a Canadian biotechnology company with 3 Phase II programs advancing its neuroprotective drugs against conditions such as Alzheimer's, cognitive impairment, stroke, 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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