The United States, New Zealand & Mexico Issue Patent for New Allon Platform
VANCOUVER, Dec. 5, 2012 /PRNewswire/ - Allon Therapeutics Inc. (TSX: NPC) announced today that the United States, New Zealand and Mexican patent authorities have each issued composition of matter patents for a new family of peptides that the Company believes has the potential to be developed to treat neurological and neurodegenerative diseases.
This new platform is derived from a protein involved in the function of microtubules that are critical to the correct structure and communication of neurons in the brain. Individual peptides derived from this platform have shown memory improvement in mice with compromised cognition caused by the aggregation of the tau protein. One of the main functions of the tau protein is to stabilize microtubules and Allon's preclinical studies have shown that peptides from this new family have the potential to inhibit tau aggregation.
"Microtubules are essential to brain function and therefore relevant to a range of neurodegenerative diseases," said Dr. Alistair Stewart, Vice President Commercial Research at Allon. "The strategy of strengthening our pipeline in this area will have considerable value if this approach is validated by our current pivotal study with davunetide."
These patents cover a family of peptides comprising an entirely new class of compounds distinct from Allon's two existing neuroprotective technology platforms, activity-dependent neuroprotective protein (ADNP) and activity-dependent neurotrophic factor (ADNF). The company's lead product candidate, davunetide, is based on ADNP.
Davunetide is being evaluated in a pivotal clinical trial as a potential treatment for progressive supranuclear palsy (PSP), a rapidly progressing and fatal degenerative brain disease. Patient treatment has been completed in the multinational pivotal phase 2/3 clinical trial, and the Company is on track to release top-line data from the clinical trial in the second half of December.
This novel peptide platform is the product of a research program between Allon, and its founding scientist Professor Illana Gozes, at Tel Aviv University.
Allon Therapeutics Inc. is a clinical-stage biotechnology company focused on bringing to market innovative central nervous system therapies. Allon's lead drug davunetide is proceeding in a pivotal clinical trial in an orphan indication, progressive supranuclear palsy (PSP), under a Special Protocol Assessment (SPA) with the U.S. Food and Drug Administration (FDA). The trial is complete and on track to analyse the data and release top-line results before the end of 2012. This pivotal trial is based upon statistically significant human efficacy demonstrated in patients with amnestic mild cognitive impairment, cognitive impairment associated with schizophrenia, and in positive biomarker data.
The Company is listed on the Toronto Stock Exchange under the trading symbol "NPC".
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. Similarly, nothing in this press release is meant to promote a pharmaceutical product or make a regulated claim of efficacy.
SOURCE Allon Therapeutics Inc.
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