Biotech Values

[DewDiligence]

Beware of companies with haughty taglines:

[Allon bills itself as “The Neuro Protection Company,” as though they were a leader in this field. The product mentioned here is administered intranasally.]

http://biz.yahoo.com/cnw/050302/allon_alzheimer_s_drg_1.html

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Allon completes dosing in Phase Ia human clinical trials for lead product

VANCOUVER , March 2 /CNW/ - Allon Therapeutics Inc. (TSX-V: "NPC"), "The Neuro Protection Company", announced today it has completed dosing for its Phase Ia human clinical trial evaluating the company's lead product AL-108 as a treatment for Alzheimer's disease.

Gordon McCauley, President of Allon, said AL-108 was administered intranasally to five groups of six healthy adults in a double-blind, placebo controlled, randomized, sequential and ascending study to evaluate primarily the safety and pharmacokinetic results. The dosing was well tolerated by all subjects and no significant side-effects were observed.

McCauley said data from the Phase Ia trial will be analyzed by May 31. The next clinical development step for AL-108 is a Phase Ib trial to evaluate AL-108 in healthy adults most at risk for Alzheimer's disease, and ultimately in diagnosed Alzheimer's patients, subject to appropriate regulatory approval. The company expects to begin this trial early in the second half of 2005.

The brains of Alzheimer's patients are characterized by plaque accumulation outside neurons, and by neurofibrillary tangles inside neurons. No drug on the market today has any impact on these plaques and tangles. Rather, drugs on the market today treat only the symptoms of Alzheimer's -- that is, they slow memory loss or modify emotional volatility or treat other behavioral symptoms.

Allon has shown in preclinical studies that AL-108 acts against both plaques and neurofibrillary tangles. AL-108 also protects healthy neurons from the formation of plaques and tangles. Animal studies have also shown that AL-108 is safely tolerated, readily administered and suitable for drug development.

McCauley also said Allon is on schedule to file a second IND at the end of Q2 2005 seeking approval to evaluate AL-208, the company's second product, in clinical trials as an intravenous treatment for mild cognitive impairment (MCI) post cardiac artery bypass graft (CABG) surgery.
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