Allon Therapeutics Inc.

Allon Therapeutics Inc.

October 16, 2006 07:15 ET

Allon to Present New Data at Two International Neuroscience Meetings

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 16, 2006) - Allon Therapeutics Inc. (TSX:NPC), The Neuro Protection Company™, today announced that a new preclinical study demonstrates the potential of the Company's proprietary compounds to partially repair brain damage that results from a key marker of pathology seen in Alzheimer's disease and other types of neurodegeneration.

Professor Illana Gozes, Chief Scientific Officer of Allon and the principal author of the study, presented the data at the 7th International Conference on Alzheimer's Disease Drug Discovery in New York on October 12, as well as at Neuroscience 2006, the annual meeting of The Society For Neuroscience being attended by more than 30,000 scientists from around the world October 14-18 in Atlanta, GA .

The key marker of neuronal degeneration studied by Prof. Gozes is known as phosphorylated tau. Increased levels of this protein in the brain occur in many types of brain cell deterioration, eventually leading to development of neurofibrillary tangles, which are closely related to Alzheimer's disease in humans. Allon's proprietary compound, the NAP peptide, has been shown to reverse the build-up of phosphorylated tau and improve cognitive function in a number of animal models.

This new study focused on the brain pathology in a strain of mice, known as ADNP (+/-) heterozygous mice, which has only half the level of a neuroprotective protein called ADNP (activity-dependent neuroprotective protein) as normal mice. The study determined that ADNP-deficient mice have high levels of phosphorylated tau and severely reduced cognitive function, as measured by tests of learning and memory.

When these mice were treated with Allon's compound NAP, which is derived from ADNP, their cognitive function was improved. In addition, when mice that were engineered to express hyper-phosphorylated tau and neurofibrillary tangles were treated with NAP, a reduction in tau hyper-phosphorylation was observed.

"It is significant that our study has determined the connection between ADNP and the hyper-phosphorylated tau and neurofibrillary tangles which extends our understanding of the mechanism for Alzheimer's disease," Prof. Gozes said. "Furthermore, we have shown that our compound NAP can partially improve the cognitive function of mice with this genetic defect. This data will be instrumental in further defining the mechanism of action for NAP."

Allon's two clinical stage drug candidates AL-108 and AL-208 are based on the NAP peptide. AL-108 will soon commence Phase II trials being evaluated as a treatment for Alzheimer's disease and AL-208 in Phase II trials being evaluated as a prevention and treatment for the mild cognitive impairment (MCI) that commonly occurs following coronary artery bypass graft (CABG) surgery.

Allon's compounds have a unique mechanism of action and have been shown to be effective in treating the underlying causes of more than eight brain diseases and conditions. Drugs on the market today treat only the symptoms - not the causes - of these diseases and injuries.

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.

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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