Allon Therapeutics

Allon Therapeutics Inc. was a clinical-stage biotechnology company focused on developing and commercializing drugs for central nervous system (CNS) and other neurodegenerative diseases. Founded in 2000 and based in Vancouver, Canada, the company's primary efforts were centered on its lead drug candidate, davunetide. Davunetide, also known as AL-108 or NAP, is an eight-amino-acid peptide derived from activity-dependent neuroprotective protein (ADNP) that showed potential in promoting microtubule stability and protecting against nerve cell damage.

The company directed its research towards major underserved markets, including Alzheimer's disease, schizophrenia-related cognitive impairment, and progressive supranuclear palsy (PSP), a rare and fatal brain disorder with no approved treatments. Allon's development strategy involved different formulations of its core peptide, with AL-108 being an intranasal spray for conditions like Alzheimer's and PSP, and AL-208 being an intravenous formulation for cognitive deficits following events like cardiac surgery. The company went public in 2005 and was listed on the Toronto Stock Exchange under the symbol "NPC". Throughout its operation, Allon secured significant funding, including a notable $10 million financing deal in 2012 to fund a pivotal Phase 2/3 trial for davunetide in PSP, which was conducted under a Special Protocol Assessment with the U.S. FDA.

Despite promising early-stage results and building a substantial intellectual property portfolio, the company's trajectory shifted dramatically after the pivotal trial for davunetide in PSP failed to meet its primary efficacy endpoints in late 2012. This significant setback led to a halt in trading of the company's shares. Faced with financial difficulties, Allon Therapeutics filed for creditor protection under Canada's Bankruptcy and Insolvency Act in May 2013. Shortly thereafter, the company's assets were acquired by Paladin Labs Inc. in a reorganization transaction that received court approval in July 2013, effectively marking the end of Allon Therapeutics as an independent entity.

Keywords: neurodegenerative diseases, central nervous system therapies, davunetide, AL-108, peptide therapeutics, progressive supranuclear palsy, Alzheimer's disease treatment, clinical-stage biotechnology, neuroprotection, Paladin Labs, tauopathy, cognitive impairment, intranasal drug delivery, activity-dependent neuroprotective protein, ADNP, defunct biotech, pharmaceutical development