Allon Therapeutics, Inc. (TSX:NPC) announced that it has raised gross proceeds of CAD 2,500,000 in a bridge loan facility on March 9, 2012. The transaction saw participation from existing investor Neuro Discovery II Limited Partnership, a fund managed by NDI Capital. The loan will bear interest at 12% per annum and will mature in one year. The investor has a right to convert the loan into common shares of the company at a conversion price of CAD 0.20 per share for a maximum of 12,500,000 shares of the company. In the event of conversion of the entire loan, NDI Capital will hold 38% of the company's shares. On March 9, 2012, Allon Therapeutics, Inc. closed the transaction.