Allon broadens intellectual property with new patent
VANCOUVER, March 5, 2012 /CNW/ - Allon Therapeutics Inc. (TSX: NPC) announced today that it has been granted a patent relating to the use of Allon's drug candidates, including lead drug candidate davunetide and pipeline product AL-309, to treat certain types of peripheral neurotoxicity. This new Australian patent strengthens Allon's intellectual property estate which includes 15 patent families, 61 issued patents and over 30 pending applications worldwide.
Dr. Alistair Stewart, Allon's Vice President of Commercial Research, said this new patent highlights Allon's commitment to provide global patent coverage of its technology platform for neurodegenerative disease.
"In preclinical studies, AL-309 showed promising results in a model of chemotherapy-induced neuropathy. Although this technology is early-stage, it represents a large commercial opportunity in the $3 billion peripheral neuropathic pain market," Stewart explains. "This new patent adds value to our extensive intellectual property estate."
Allon previously presented preclinical data at the 2009 Society for Neurosciences meeting, demonstrating the potential of AL-309 in chemotherapy-induced neuropathy. AL-309 showed neuroprotective activity and reduction of pain symptoms in a preclinical model of oxaliplatin-induced neuropathy.
The issued patent contains claims relating to the method of using AL-209, AL-309 and various derivatives alone or in combination with Allon's lead product candidate davunetide to treat peripheral neurotoxicity caused by drugs used to treat cancer, multiple sclerosis, gout, arthritis, Behcet's disease, psychiatric disorders, immunosuppression and infectious disease.
About peripheral neuropathy
Peripheral neurotoxicity and neuropathic pain can result from a variety of medical conditions, such as diabetes; or from the side-effects of drug treatments, such as cancer chemotherapy. Peripheral neuropathy is caused by damage to peripheral nerves that detect touch and painful stimuli. Symptoms include tingling, hypersensitivity to light touch or painful stimuli and chronic pain. These sensory problems can also proceed to numbness and loss of sensitivity. Common qualities of the painful neuropathy include burning or coldness, "pins and needles" sensations, numbness and itching. Global drug sales for neuropathic pain will reach an estimated $3 billion in 2012.
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, in Progressive Supranuclear Palsy (PSP), under a Special Protocol Assessment (SPA) with the U.S. Food and Drug Administration (FDA). The trial is fully enrolled and is expected to complete patient dosing and release top-line data by late 2012. This pivotal trial is based upon statistically significant human efficacy demonstrated in patients with amnestic mild cognitive impairment (a precursor to Alzheimer's disease), 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.