NPC Top 10 Partnering Prospectshttps://www.allontherapeutics.com/2012/11/allon-selected-as-top-10-partnering-prospect-by-cns-experts/
Allon selected as Top 10 partnering prospect by CNS experts
VANCOUVER, B.C. — Allon Therapeutics Inc. (TSX: NPC) was selected as one of the “Top 10 CNS Licensing Prospects” and will present today at the Windhover Therapeutics Area Partnerships (TAP) conference in Boston, MA . A panel of independent experts commissioned by the conference has selected Allon as one of the Top 10 partnering prospects globally in the neuroscience field.
Allon announced November 13 that patient treatment has been completed in the multinational pivotal phase 2/3 clinical trial that is evaluating the Company’s lead product davunetide as a potential treatment for progressive supranuclear palsy (PSP), a rapidly progressing and fatal degenerative brain disease. Allon expects to disclose top line data from this pivotal study in the second half of December.
Dr. Michael Gold, Vice President, Clinical Development and Chief Medical Officer, said that the Company is on track to meet its objective of releasing top-line data from the clinical trial in the second half of December. “Given how close we are to data, and that davunetide is the most advanced tau related therapy in the world, there has been a lot of partnering interest” Gold said.
Gold said that positive data from the clinical trial would present Allon with several options, including pursuing regulatory approval in the U.S. and other markets for PSP. Allon estimates the market potential for the first approved treatment for PSP could exceed $700 million in the U.S. and Europe. PSP is suffered by approximately 25,000 people in the United States and 40,000 people in the European Union.
Attendees at the Windhover TAP conference include financing and business development leaders eager to assess some of the most promising drugs in development and available for partnering in the hottest therapeutic areas. Allon and other companies selected as “Top Projects to Watch” make their presentations today and then hold one-on-one partnership meetings today and Friday.
Conference officials said criteria for selection as Top Projects were
- Large market, large unmet need, with increasing opportunity;
- History of the molecule and drug;
- Strong science;
- Strong company;
- Diversity of indications;
- Potential for new opportunities beyond the initial indications; and
- Multi-level partnering opportunities, i.e., biotech to biotech as well as pharma to biotech