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ALLON BEGINS MILD COGNITIVE IMPAIRMENT STUDY

August 23, 2005

Allon Therapeutics has commenced dosing the first patient in a Phase I clinical trial to evaluate the AL-208 as an intravenous treatment for mild cognitive impairment associated with postcoronary artery bypass graft surgery.

The trial is administering AL-208 to 48 healthy adults randomized into six dose groups to evaluate its safety, tolerability and pharmacokinetics. It is a double-blind, placebo-controlled, randomized, ascending study.