Canadian Patent Strengthens IP for Allon's 2nd Technology Platform

VANCOUVER, BRITISH COLUMBIA, Oct 08 (MARKET WIRE) --
Allon Therapeutics Inc. (TSX: NPC) announced today that the intellectual
property underlying its activity-dependent neurotrophic factor (ADNF)
technology platform has been strengthened by the issuance of a Canadian
patent covering the chemical composition of the Company's
preclinical-stage peptide AL-209 and its use in protecting against
Alzheimer's disease and other degenerative diseases.

The Company said AL-209 has demonstrated highly potent neuroprotective
activity in preclinical studies where it has been shown to block the
effect of toxic insults and protect against neuronal cell death. AL-209
comes from the same Activity-dependent neurotrophic factor (ADNF)
platform as AL-309 and has significant potential across a range of
disease indications.

About Allon's neuroprotective platforms

Allon's two neuroprotective technology platforms are based on naturally
occurring proteins produced by the brain in response to a range of
insults. The platforms are activity-dependent neuroprotective protein
(ADNP) and activity-dependent neurotrophic factor (ADNF).Because the two
platforms are based on different proteins, the drugs from each are
different molecules with different therapeutic mechanisms and distinct
commercial opportunities. Clinical-stage drugs davunetide intranasal
(AL-108) and davunetide intravenous (AL-208) are derived from ADNP, while
preclinical stage drugs AL-209 and AL-309 are derived from ADNF. ADNP
drugs davunetide intranasal (AL-108) and davunetide intravenous (AL-208)
are focused on Alzheimer's disease, frontotemporal dementia, and
cognitive impairment. ADNF drug candidate AL-309 is being developed for
the treatment of peripheral neuropathies and is administered orally or
subcutaneously.

About Allon

Allon Therapeutics Inc. is a clinical-stage biotechnology company focused
on developing the first drugs that impact the progression of
neurodegenerative diseases. Allon's drug davunetide has demonstrated
human efficacy in amnestic mild cognitive impairment, a precursor to
Alzheimer's disease, and schizophrenia-related cognitive impairment.
Allon has Phase II human efficacy programs pursuing large underserved
markets: Alzheimer's disease, frontotemporal dementia, and
schizophrenia-related cognitive impairment. 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

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 and Allon disclaims any
obligation to update or announce changes in any such factors except in
its periodic filings.

Contacts:
Allon Therapeutics Inc. - Investor and Media Contact
Aaron Keay
Director, Investor Relations
(604) 742-2540 or Cell: (604) 323-6911
akeay@allontherapeutics.com
www.allontherapeutics.com

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