VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 21, 2007) - Allon Therapeutics Inc. (TSX:NPC), The Neuro Protection CompanyTM, announced today that it has filed an Investigational New Drug application (IND) with the United State Food and Drug Administration (FDA) seeking approval to begin human clinical trials evaluating the Company’s product AL-108 as a treatment for Schizophrenia related cognitive impairment. The Company announced on January 8th that the United States National Institute of Mental Health-funded project, Treatment Units for Research of Neurocognition in Schizophrenia (TURNS) has selected Allon’s drug for Phase II clinical trials.