VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 30, 2011) - Allon Therapeutics Inc. (TSX:NPC) announced today that it has been granted a United States patent covering the use of Allon's drug candidates, including its lead product davunetide, and other pipeline products for the treatment of laser-induced retinal damage. This new patent strengthens Allon's intellectual property estate, which includes 15 patent families, 60 issued patents and over 30 pending applications worldwide.
This patent relates to findings recently published in Acta Ophthalmologica which reported that davunetide has neuroprotective effects in an animal model of retinal laser injury. The results suggest the potential of davunetide as a treatment for retinal damage following retinal laser photocoagulation or other types of ophthalmic laser surgeries.
Dr. Alistair Stewart, Allon's Vice President of Commercial Research, said this new U.S. patent is illustrative of the Company's success in generating broad patent coverage around Allon's novel molecules and potential applications. "Davunetide has consistently shown its broad protective effects in neurodegenerative diseases, both in preclinical and human studies," said Stewart. "This recent study indicates davunetide has potential in other types of brain disease and injury where neuroprotection can have a positive impact."
Allon's patent portfolio also includes issued patents and pending patent applications that provide protection around davunetide and its technology platform for treatment of neurodegenerative diseases, including progressive supranuclear palsy (PSP), Alzheimer's disease and Parkinson's disease.
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 Phase 2/3 clinical trial in an orphan indication, progressive supranuclear palsy (PSP), under a Special Protocol Assessment (SPA) with the U.S. Food and Drug Administration (FDA). This pivotal trial is based upon statistically significant human efficacy demonstrated in patients with amnestic mild cognitive impairment (a precursor to Alzheimer's disease) and cognitive impairment associated with schizophrenia, and in positive biomarker data.
The Company is listed on the Toronto Stock Exchange under the trading symbol "NPC".
Davunetide is derived from a naturally occurring neuroprotective brain protein known as activity dependent neuroprotective protein (ADNP). Allon's human clinical and pre-clinical data suggest that davunetide works on microtubules, structures in the brain critical to communication between cells, and central to the tau pathway. Davunetide has shown statistically significant impacts on memory, activities of daily living, and a biomarker of brain cell function and integrity. Allon has extensive intellectual property protecting davunetide.
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.