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
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
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.
SOURCE Allon Therapeutics Inc.
For further information:
Allon Therapeutics Inc.
Director, Investor Relations