Vancouver’s Allon Therapeutics Inc. (TSX:NPC.TO) is extending its drug development program to target a cure for Parkinson’s after receiving a $625,000 grant from the Michael J. Fox Foundation (MJFF) for Parkinson's Research.
Allon's focus recently has been on testing the potential for lead drug candidate davunetide to treat progressive supranuclear palsy (PSP), which is a movement disorder often misdiagnosed as Parkinson’s.
The company has tested the potential for davunetide to treat patients with a certain kind of dementia and patients with cognitive impairments associated with Alzheimer’s or schizophrenia.
However, the company has largely focused on developing davunetide as a treatment for PSP because that disease is the fastest route to commercialization.
Allon is in phase 2/3 clinical trials with PSP patients.
With the MJFF grant money, Allon will conduct pre-clinical research on mice to determine the potential for davunetide as a treatment for Parkinson's.
The new project will focus on the impact of davunetide on a protein central to generation of Parkinson's pathology.
"Because davunetide is already in clinical trials for progressive supranuclear palsy, a rare progressive movement disorder, the potential exists to rapidly bridge to a clinical trial in [Parkinson’s]," said Todd Sherer, MJFF’s chief program officer.
“Our foundation is dedicated to supporting groups like Allon who have promising [Parkinson’s] therapies in development with a clear path forward toward practical relevance in patients’ lives.”
An estimated 1.5 million people in North America suffer from Parkinson's, which currently has no cure, although there are treatments for some of its symptoms.
Allon’s share price range during the last week: $0.375 to $0.38; 52-week high: $0.77; 52-week low: $0.22.