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ALLON'S AL-208 SUCCESSFUL IN CLINICAL TRIAL

February 28, 2006

Allon Therapeutics has announced that a Phase I clinical trial has demonstrated that AL-208 was safe and well-tolerated in 64 healthy and elderly adults.

AL-208 is being developed as a treatment for the mild cognitive impairment that occurs following coronary artery bypass graft (MCI post-CABG) surgery, for which there is no available treatment.

Studies estimate that cognitive impairment occurs in 90 percent of the cases in the first week post-surgery, that more than 50 percent of patients show impairment when discharged from the hospital, and that 24 percent continue to show impairment after six months. The studies also showed that after five years, 42 percent of patients were significantly cognitively impaired compared to their pre-surgery performance.