February 9, 2011 -- VANCOUVER, B.C. — Allon Therapeutics Inc. (TSX: NPC) President and CEO Gordon McCauley will present an update of the Company’s business progress Tuesday at 7:30 a.m. PST/ 10:30 a.m. EST at the 13th Annual BIO CEO & Investor Conference in New York City.
BIO CEO is the biotechnology industry’s largest conference focused on publicly traded companies. In addition to public presentations to biotechnology executives, institutional investors and investment analysts, the conference facilitates private one-on-one partnering discussions and investor meetings.
In his presentation, McCauley will include an update of the Company’s programs, including its pivotal Phase 2/3 clinical trial evaluating lead neuroprotective drug candidate, davunetide, as a potential treatment for progressive supranuclear palsy (PSP), a rapidly progressing and fatal degenerative brain disease.
The Company announced January 4, 2011 that it reached agreement with the United States Food and Drug Administration (FDA) on a Special Protocol Assessment (SPA) for this pivotal trial. Enrolment in the study began in the fourth quarter of 2010. The Company expects data from this trial in about two years, forming the basis for a New Drug Application for approval of davunetide in PSP.
The presentation is being webcast live at http://www.veracast.com/webcasts/bio/ceoinvestor2011/73206196.cfm. The presentation will be available for viewing one hour after conclusion of the live event and archived for three months. It can also be viewed from the Company’s website at http://www.allontherapeutics.com/events_webcasts.html.
About davunetide
Allon is enrolling patients in a pivotal Phase 2/3 clinical trial evaluating davunetide as a potential treatment for progressive supranuclear palsy (PSP), a rapidly-progressing and fatal movement disorder with dementia which is often misdiagnosed as Parkinson’s or Alzheimer’s disease. Allon has agreement with the FDA on a Special Protocol Assessment allowing data from the trial to be used for drug registration and approval. Davunetide for the treatment of PSP has been granted Orphan Drug and Fast Track Status in the U.S. Similarly, Allon has Orphan Status for davunetide in the EU for the treatment of PSP.
Davunetide is a fragment of a naturally occurring neuroprotective brain protein known as activity dependent neuroprotective protein (ADNP). Allon’s human clinical and pre-clinical data suggest that davunetide works on microtubules, structures in the brain critical to communication between cells, and central to the tau pathway. In human trials, davunetide has shown statistically significant impacts on memory, activities of daily living, and a biomarker of brain cell function and integrity. Allon has extensive intellectual property protecting davunetide.
About Allon’s neuroprotective platforms
Allon’s two neuroprotective technology platforms are based on two naturally occurring proteins produced 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 based on davunetide are derived from ADNP, while preclinical stage drug AL-309 is derived from ADNF. Davunetide is focused on Alzheimer’s disease, cognitive impairment associated with schizophrenia, and progressive supranuclear palsy (PSP). AL-309 is being developed for the treatment of peripheral neuropathies and is administered orally or subcutaneously.
About Allon
Allon Therapeutics Inc. is a clinical-stage biotechnology company focused on developing the first drugs that impact the progression of neurodegenerative diseases. Allon’s lead drug davunetide, is proceeding in a Phase 2/3 clinical trial in an orphan indication, progressive supranuclear palsy (PSP), under an SPA with the FDA. This pivotal trial is based upon statistically significant human efficacy demonstrated in amnestic mild cognitive impairment, cognitive impairment associated with schizophrenia, and positive biomarker data. 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: www.allontherapeutics.com.
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.sedar.com and should be considered carefully. Readers are cautioned not to place undue reliance on such forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Investor Contact Allon Therapeutics Inc.
Aaron Keay Director, Investor Relations (604) 323-6911 Email: info@allontherapeutics.com Website: www.allontherapeutics.com
Media Contact
Edie DeVine, GCI Health (415) 365-8543 Email: edie.devine@gcihealth.com
