New Allon research presented at leading scientific symposium

VANCOUVER, May 14, 2012 /PRNewswire/ - Allon Therapeutics Inc. (TSX: NPC) announced today that a presentation given May 12 at the prestigious 12^th International Stockholm / Springfield Symposium on Advances in Alzheimer Therapy featured new research with Allon's lead product candidate, davunetide, showing a prevention of neuronal cell death.  This research was recently published in the International Journal of Alzheimer's Disease.

The article, "Tau and Caspase 3 as Targets for Neuroprotection", was authored by Professor Illana Gozes, scientific founder of Allon. Professor Gozes also gave the presentation at the Springfield Symposium. The manuscript and presentation describe the neuroprotective effect of davunetide at preventing apoptosis, or cell death, in different cellular pathways associated with neurodegenerative diseases like Alzheimer's and progressive supranuclear palsy (PSP), a devastating and progressive brain disease affecting movement, speech, and behaviour.

PSP is considered a tauopathy, involving the tau protein in brain cells. Allon has previously demonstrated, in both preclinical and clinical studies, that davunetide has an impact on the tau pathology. Davunetide is currently being tested in a pivotal clinical trial as a potential treatment for PSP which makes it the most advanced tau therapy in the world.

The Company believes that success in treating PSP with davunetide would define the opportunity to investigate davunetide in other tau-related diseases, such as Alzheimer's, subtypes of frontotemporal dementia, as well as other neurodegenerative diseases like schizophrenia and Parkinson's.

International Journal of Alzheimer's Disease is a peer-reviewed journal that publishes original research articles, review articles, and clinical studies in all areas of Alzheimer's disease. A downloadable version of the full article can be found at the following link: http://www.hindawi.com/journals/ijad/aip/493670/

The 12^th International Stockholm / Springfield Symposium on Advances in Alzheimer Therapy is a bi-annual meeting that distinguishes itself from other scientific meetings of its kind for two reasons.  It is the only international meeting that focuses entirely on the pharmacological therapy of Alzheimer's disease with particular emphasis on the discovery of new drugs.  Also, the meeting is jointly organized by an American and two European research institutions.

About Allon
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 fully enrolled and is expected to complete patient dosing and release top-line data by late 2012. This pivotal trial is based upon statistically significant human efficacy demonstrated in patients with amnestic mild cognitive impairment (a precursor to Alzheimer's disease), 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.

Rick Smith
Allon Therapeutics Inc.
Director, Investor Relations
(604) 742-2543
[email protected]
www.allontherapeutics.com

SOURCE Allon Therapeutics Inc.