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.
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 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.
Carrie Christenson
604-736-0634
info@allontherapeutics.com
www.allontherapeutics.com
SOURCE Allon Therapeutics Inc.