Neuro Discovery II Limited Partnership announces it entered into a bridge financing agreement with Allon Therapeutics Inc.

VANCOUVER, March 13, 2012 /CNW/ - Neuro Discovery II Limited Partnership ("Neuro II") announces it entered into a bridge financing agreement on March 8, 2012 with Allon Therapeutics Inc. (the "Issuer"), whereby Neuro II will loan the Issuer $2.5 million.

Under the terms of the one-year 12% interest bearing bridge loan, Neuro II has the right to convert the loan at any time for common shares of the Issuer at a discount to the prevailing five day volume weighted average price of $0.20.  No more than 10,055,666 shares may be acquired without prior Issuer shareholders' approval, which will be sought at the June 2012 annual shareholders' meeting.  If the required shareholders' approval is not received, the balance of the loan will be due in cash.

Neuro II beneficially owns or has rights to acquire 18,000,000 common shares of the Issuer.  In the event of conversion of the entire loan, Neuro II would beneficially own or have the right to acquire a maximum of 32,000,000 common shares of the Issuer, representing approximately 26% of the Issuer's issued and outstanding common shares.  Neuro II and Neuro Discovery Limited Partnership ("Neuro") are managed by their general partners, each of which is wholly-owned by NDI Capital Inc. ("NDI").  Neuro beneficially owns 11,490,952 common shares of the Issuer, and together with Neuro II, in the event that the loan was fully converted to common shares, NDI would control a maximum of 43,490,952 common shares of the Issuer, representing approximately 36% of the Issuer's issued and outstanding common shares.

The common shares of the Issuer are listed on the TSX and trade under the trading symbol "NPC".  Neuro II acquired the securities for investment purposes.  Depending on market conditions, Neuro II may in the future increase or decrease its investment in the Issuer.

An Early Warning Report respecting this acquisition has been filed on the System for Electronic Document Analysis and Review ("SEDAR") under the Issuer's profile and can be viewed at www.sedar.com.

NEURO DISCOVERY II LIMITED PARTNERSHIP by its general partner NDI Partnership Management II Ltd.

Per: "James J. Miller"
James J. Miller
CEO and President

Neuro Discovery II Limited Partnership
#506 - 1168 Hamilton Street
Vancouver, British Columbia V6B 2S2