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Allon Therapeutics to Present New Data at Leerink Swann Alzheimer's,Conference

VANCOUVER, British Columbia--(BUSINESS WIRE)--Apr 3, 2007 - Allon Therapeutics Inc. (TSX:NPC), The Neuro Protection Company(TM), announced today the publication of new preclinical data from additional confirmatory animal studies showing that Allon's product candidate AL-108 significantly reduces the accumulation of amyloid peptide and the hyperphosphorylation of tau protein in the brain, two pathological hallmarks of Alzheimer's.

Gordon McCauley, Allon's President and Chief Executive Officer, announced this publication to a conference in New York sponsored by investment bank Leerink Swann & Company entitled "A Mind is a Terrible Thing to Waste: Emerging Trends for Alzheimer's Disease." The invitation only event for institutional investors, venture capitalists and hedge fund managers who invest in the healthcare sector, highlights select companies developing Alzheimer's treatments.

"Our Alzheimer's program is based on this very compelling data showing that our compounds work on both of the classic hallmarks of Alzheimer's disease and the Phase II efficacy program is enrolling well," said McCauley. "We believe that we have implemented a sound and strategically balanced clinical plan for our compounds and we anticipate the results eagerly."

"Data published in The Journal of Molecular Neuroscience shows that AL-108 can modify disease progression in one of the most relevant models of Alzheimer's disease and our clinical development program is working to demonstrate this capability in human clinical trials," McCauley said.

McCauley said Allon is focused on developing drugs to treat processes underlying numerous neurodegenerative diseases and injury of the central nervous system. Drugs on the market today treat only the symptoms of these diseases and conditions.

Webcast and Conference location

Allon Therapeutics' presentation will take place on Tuesday, April 3, 2007 at 2:15pm Ea stern Daylight Time at the Le Parker Meridien, located at 119 West 56th Street (between 6th and 7th Avenues), New York. To view the webcast of the presentation, please use the link below. For 90 days following the conference the same link can be used to view the webcast, or alternatively you can visit www.allontherapeutics.com to access the presentation.

Live webcast link: http://www.wsw.com/webcast/leerink9/npc.to/

About Allon

Allon Therapeutics Inc. is a clinical-stage Canadian biotechnology company developing drugs that protect against neurodegenerative conditions such as Alzheimer's, cognitive impairment, stroke, traumatic brain injury, multiple sclerosis and neuropathy. The Company is listed on the Toronto Stock Exchange under the trading symbol "NPC" (Neuro Protection Company(TM)) and based in Vancouver. For additional information please visit the company's website: www.allontherapeutics.com

Forward Looking Statements

There are forward-looking statements contained herein that are not based on historical fact, including without limitation statements containing the words "believes," "may," "plans," "will," "estimate," "continue," "anticipates," "intends," "expects," and similar expressions. Such forward-looking statements involve 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 such forward-looking statements. Such factors include, among others, Allon's stage of development, lack of product revenues, additional capital requirements, risks associated with the completion of clinical trials and obtaining regulatory approval to market Allon's products, the ability to protect its intellectual property and dependence on collaborative partners. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking stateme nts. The Company disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments.

Contact

Investor and Media contact:
Allon Therapeutics Inc.
Aaron Keay, Manager, Investor Relations, 604-742-2540
Cell: 604-323-6911
akeay@allontherapeutics.com


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