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Allegiance Equity Corporation announces collaboration with Canadian Dairy Commission and Guelph Food Technologies Corporation for Alzheimers and Dementia formulation GG-XT
Date:6/23/2008

(TSX-V "ANQ") Canadian Dairy Commission funds formulation of two beverages with GG-XT at

Guelph Food Technologies.

TORONTO, June 23 /PRNewswire-FirstCall/ - The Canadian Dairy Commission has funded the formulation of two dairy beverages with GG-XT for Allegiance at Guelph Food Technologies.

Allegiance filed Canadian and International Patent Applications, and Health Canada Natural Product Applications for GG-XT. GG-XT is a proprietary compound of Panax Gensing and Gingko Giloba for the treatment and prevention of Alzheimers and Dementia. GG-XT improves memory, cognitive function, vitality of life and mental well-being.

Recent Developments

Biofrontera AG of Germany, listed on Frankfurt Stock Exchange (BBF) has licensed Relieva and Psorberine from Prime Pharmaceutical Corporation (Prime). Allegiance has a 37.5% equity interest in Prime as the controlling shareholder.

The licensing of Relieva and Psorberine for the treatment of Eczema and Psoriasis to Biofrontera will rapidly develop product extentions and new channels of commercialization globally when combined with Biofrontera's revolutionary "nano-technology" treatment for acne, eczema, general irritation and inflammation. The transaction in addition to an upfront fee valued at approxiametely $175,000 in Biofrontera shares will augment revenues by a minimum of $240,000 per annum payable against a 5% royalty on net sales.

The strategic business association with Biofrontera AG is an important extension of the impressive worldwide network of partners that Allegiance has developed. This development includes major scientific, research and regulatory organizations, including, world renowned scientists, researchers, universities and suppliers. Allegiance continues to attract an impressive following based on its ability to invent new proprietary treatments for widespread diseases where existing drugs, research channels and
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SOURCE Allegiance Equity Corporation
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