News
Allon's CEO presenting at BIO CEO conference in NYC
VANCOUVER — February 9, 2009 - Allon Therapeutics Inc. (TSX: NPC) President and CEO Gordon McCauley will outline the Company’s progress on its 2009 clinical and corporate milestones at 11:30 a.m. EST today at the 11th annual BIO CEO and Investor Conference in New York City, and the Company announced the official USAN/INN name for its product candidate AL-108.
BIO CEO is attended by institutional investors, investment analysts and other industry experts. The conference is sponsored by the Biotechnology Industry Organization (BIO), the world’s largest biotechnology organization with more than 1,200 members.
Allon announced its milestones for the year on January 9, 2009. Specifically, the Company said that it expects to finalize a pharmaceutical partnership around its product candidate AL-108, which has shown robust human proof of concept in the Company’s Alzheimer’s program. In addition, Allon will move forward with a Phase II clinical trial in frontotemporal dementia (FTD). FTD describes several cognitive disorders for which no treatment is currently available, including several that are fatal within three to five years of diagnosis. Finally, the Company expects to initate a Phase II trial in Alzheimer’s using Positron Emission Topography to learn more about AL-108’s effect on the human brain.
Allon also announced January 9 that the Company’s existing cash resources are sufficient to fund its business into 2011.
The Company reported today that the United States Adopted Name Council (USAN) and the World Health Organization assigned “davunetide” as the official generic or non-proprietary name to the Company’s lead neuroprotective compound NAP, currently being evaluated in Phase II human clinical trials.
NAP is an eight amino acid peptide, Asn-Ala-Pro-Val-Ser-Ile-Pro-Gln, single letter code NAPVSIPQ, derived from Allon’s Activity Dependent Neuroprotective Protein (ADNP) platform. Allon will hereafter refer to NAP as davunetide.
AL-108, the Company’s intranasal formulation of davunetide being evaluated in human clinical trials as a treatment for Alzheimer’s disease, frontotemporal dementia and schizophrenia-related cognitive impairment, will be known as davunetide intranasal (AL-108). AL-208, the Company’s parenteral formulation of NAP, will be known as davunetide intravenous (AL-208).
About USAN
USAN serves the health professions in the United States by selecting simple, informative, and unique names for drugs by establishing logical nomenclature classifications based on pharmacological and/or chemical relationships. USAN is sponsored by the American Medical Association, the United States Pharmacopeial Convention and the American Pharmacists Association. In addition, the U.S. Food and Drug Administration (FDA) cooperates with and is represented on the USAN Council. USAN also works closely with International Nonproprietary Names (INN) committee of the World Health Organization to select a single name of worldwide acceptability for each active substance that is to be marketed as a pharmaceutical.
USAN does not assign generic names until Investigational New Drug applications have been approved by the FDA and clinical trials are under way, typically after Phase 2 clinical trials have been conducted.
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 AL-108 and AL-208 are derived from ADNP, while preclinical stage drug AL-309 is derived from ADNF. ADNP drugs AL-108 and AL-208, focused on Alzheimer’s disease and cognitive impairment, are administered intranasally and intravenously respectively. The ADNF drug candidate AL-309 is administered orally or subcutaneously.
About Allon
Allon Therapeutics Inc. is a clinical-stage biotechnology company developing treatments for major neurodegenerative conditions. Allon’s drug AL-108 has demonstrated human efficacy in amnestic mild cognitive impairment, a precursor to Alzheimer’s disease. Allon has Phase II human efficacy programs pursuing large underserved markets: Alzheimer's disease, frontotemporal dementia, and schizophrenia-related cognitive impairment.
The Company is listed on the Toronto Stock Exchange under the trading symbol "NPC" (Neuro Protection CompanyTM) 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 and Allon disclaims any obligation to update or announce changes in any such factors except in its periodic filings.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Allon Therapeutics Inc. - Investor and Media Contact
Aaron Keay
Director, Investor Relations
(604) 742-2540 or Cell: (604) 323-6911
Email: akeay@allontherapeutics.com
Website: www.allontherapeutics.com
