Last updated on April 21, 2014 at 9:29 EDT

New Allon research presented at leading scientific symposium

May 14, 2012

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

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

SOURCE Allon Therapeutics Inc.

Source: PR Newswire