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Palo Alto, CA, April 2, 2003 — Telik, Inc. (Nasdaq:
TELK) announced the election of Robert W. Frick and Richard B. Newman
to the company’s Board of Directors.
Mr. Frick was formerly a senior executive with Bank of America,
serving in various capacities including Vice Chairman of the Board,
Chief Financial Officer, head of the World Banking Group, Managing
Director of BankAmerica International, and President of Bank of
America’s venture capital subsidiary. He is currently a consultant
on business strategy, organizational structure and financial issues
for a number of client companies, and serves on the boards of directors
of several private companies. He is an Adjunct Professor of Business
Strategy in the graduate business program at St. Mary’s College.
Richard Newman is President and Chief Executive Officer of D&R
Products Co., Inc., which designs, develops and manufactures orthopedic,
vascular and other surgical medical devices and instruments for
major medical device and instrument manufacturers in the United
States and Europe. An attorney, he has more than 30 years’
experience in acquiring and operating industrial, real estate and
software businesses.
"Bob Frick and Richard Newman each bring a wealth of executive,
business and financial experience to Telik," said Chairman
and Chief Executive Officer Michael M. Wick, M.D., Ph.D. "We
look forward to the contributions they will make as we advance the
development of more effective drugs to treat cancer patients and
grow Telik into a commercial company ."
Telik, Inc. of Palo Alto, CA is a biopharmaceutical company working
to discover, develop and commercialize small molecule drugs to treat
serious diseases for which there is significant demand for new therapies.
The company’s most advanced drug development candidates are
TLK286, a tumor activated small molecule drug that is in Phase 2
clinical trials in ovarian, non-small cell lung, colorectal and
breast cancer, and TLK199, a small molecule myelostimulant. Telik’s
product candidates were discovered using its proprietary drug discovery
technology, TRAP, which enables the rapid and efficient discovery
of small molecule drug candidates. Additional information is available
at www.telik.com.
You should not rely on forward-looking statements contained in
this press release, including statements regarding the potential
for TLK286 or TLK199 to treat one or more types of cancer. Telik
can give no assurance with regard to these statements. TLK286 and
TLK199 are in clinical development and have not been approved for
marketing, and there can be no assurance that the clinical trials
required to successfully develop these compounds will have a successful
outcome, or that regulatory approval will be obtained. Telik is
reliant on external manufacturing of TLK286 and TLK199. More detailed
information regarding factors that may cause actual results to differ
materially from the results expressed or implied by statements in
this press release may be found in Telik’s periodic filings
with the Securities and Exchange Commission. Telik assumes no obligation
to update any information in this press release.
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Contact:
Carol DeGuzman
Senior Director, Corporate Communications
Telik, Inc.
Tel 650-845-7728
Email cdeguzman@telik.com
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