Last updated on April 24, 2014 at 1:21 EDT

Allon CEO updates Bloom Burton & Co. Healthcare Investor Conference

June 21, 2012

VANCOUVER, June 21, 2012 /PRNewswire/ – Allon Therapeutics Inc. TSX: NPC President and CEO Gordon McCauley is presenting an update of the Company’s progress today at the Bloom
Burton & Co. Healthcare Investor Conference at the Toronto Board of
Trade in Toronto.

McCauley’s presentation will include an update of the Company’s
programs, including the pivotal clinical trial evaluating its lead
neuroprotective drug candidate, davunetide, as a potential treatment for PSP, a rapidly progressing and fatal
degenerative brain disease. The trial is fully enrolled and on track to
complete the study, analyse the data and release top-line results
before the end of 2012.

Bloom Burton & Co. is Canada’s largest and most active
healthcare-specialized investment banking group. The team of healthcare
specialists merges scientific, medical, clinical, intellectual property
and commercial expertise with a strong understanding of the capital
markets, to advise and raise capital for private and public companies.

The conference brings together U.S., Canadian and European investors who
are interested in the latest developments in the Canadian healthcare
sector. Attendees will have an opportunity to obtain corporate updates
from the premier Canadian public and private companies through
presentations and break-out Q&A sessions.

Allon’s presentation will be immediately archived and available for
viewing from the Company’s website at www.allontherapeutics.com/corporate/news/events-and-webcasts/

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 on track to
complete the study, 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.

Carrie Christenson

SOURCE Allon Therapeutics Inc.

Source: PR Newswire