On July 15, 2008, Allon Therapeutics Inc. (TSX:NPC), announced that it had completed its previously annonced bought deal public offering of common shares. Allon sold 19,050,000 common shares at a price of $1.05 per common share, resulting in gross proceeds to Allon of $20,002,500.

The offering was underwritten by a syndicate led by GMP Securities L.P. and including Canaccord Capital Corporation and Cormark Securities Inc.

The net proceeds of the offering will be used for (i) advancing the Company's clinical and drug development programs, and (ii) working capital and general corporate purposes. The transaction is subject to the receipt of all necessary regulatory and stock exchange approvals.

Allon Therapeutics Inc. is a clinical-stage biotechnology company developing treatments for major neurodegenerative conditions.

The underwriters were advised in this transaction by a team from Fasken Martineau that included, among others, Rubin Rapuch, Georges Dubé, Bozidar Crnatovic and Adam Inglis.