Allon Therapeutics Inc.

Allon Therapeutics Inc.

December 12, 2006 13:30 ET

New Allon Publication Shows Key Role of ADNP In Embryo Development

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 12, 2006) - Allon Therapeutics Inc. (TSX:NPC), The Neuro Protection Company™, today announced publication of a new preclinical study demonstrating that the endogenous neuroprotective protein ADNP (Activity-Dependant Neuroprotective Protein) is essential for brain function and development. Allon's two phase II clinical programs are based on neuroprotective fragments of ADNP. The study was published online this month in the journal Developmental Biology.

Professor Illana Gozes, Allon's Chief Scientific Officer and primary author of the study stated: "This study provides significant information for Allon's scientists in understanding the role of these important neuro-proteins in integrative or systems biology. The new data characterized a large number of changes that occur when you reduce the amount of ADNP expression by gene knock-out. When you completely abolish ADNP expression in developing embryos, a large number of changes are induced in inter-related pathways which are known to be key regulators of development."

This data helps to confirm that ADNP is situated at a critical regulatory point associated with brain maturation and function. Complete deletion of ADNP expression alters the balance of normal embryo development resulting in lethality and indicating that ADNP acts at a key point in the pathways that drive and regulate embryogenesis.

About ADNP

The discovery of ADNP originates from studies conducted on vasoactive intestinal peptide (VIP). VIP was shown to exert its neuroprotection by causing neuroregulatory proteins to be secreted from glial cells. ADNP is one of these secreted proteins which, in addition to neuroprotection, has been shown to be critical for brain formation.

Allon's portfolio of neuroprotective compounds, including its two products AL-108 and AL-208, are derived from ADNP. NAP (NAPVSIPQ) is a fragment of ADNP which shows potent neuroprotection in a broad range of preclinical models and has been developed into Allon's products which are currently in clinical trials. AL-208 is in a Phase II human efficacy trial in Mild Cognitive Impairment - Coronary Artery Bypass Graft (MCI-CABG) and AL-108 has recently received IRB approval for a Phase II human efficacy trial in an Alzheimer's related condition.

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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