ALLON THERAPEUTICS ARRANGES $6.2 MILLION FINANCING

Allon Therapeutics Inc. (TSX-V: "NPC"), The Neuro Protection Company(TM), announced today that it has arranged a $6.2-million private placement of common shares to a group of largely institutional investors at a price of $1.05 per share. The placement funds have been received and closing is expected in the immediate future upon formal TSX Venture Exchange acceptance.

Canada NewsWire Group (http://www.newswire.ca/en/releases/archive/August2005/15/c9953.html)