Allon Therapeutics seeks liquidation after dementia drug flops

Allon Therapeutics has run short on options after the failure of its top candidate in a Phase II/III study last year for a form of dementia called progressive supranuclear palsy. Under Canada's Bankruptcy and Insolvency Act, the Vancouver-based biotech company plans to sell off its assets to Paladin Labs, leaving the company with $900,000 in cash from Paladin and a list of creditors to converge on what is left. Release