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Palo Alto, CA, April 10, 2003 — Telik, Inc. (Nasdaq:
TELK) announced a collaboration with Roche to utilize Telik’s
proprietary small molecule drug discovery technology, TRAP, to identify
drug candidates active against a pharmaceutical target selected
by Roche. Financial terms were not disclosed.
"We have successfully used TRAP in collaborations with selected
pharmaceutical and biotechnology companies and leading cancer research
institutions, as well as to fill our product development pipeline
which includes TLK286 and TLK199," said Michael M. Wick, M.D.,
Ph.D., chairman and chief executive officer. "We are pleased
to work with Roche in their drug discovery efforts."
"We chose Telik as a collaborative partner based on the unique
aspects of TRAP technology to identify novel small molecule leads
that form a strong basis for elaboration into drug-like molecules
active against biologic targets," said Ian Massey, head of
research and development in Roche Palo Alto.
TRAP is based on the fundamental principle that pharmaceutically
active molecules work by interacting with a protein target. Telik
measures the binding of a small molecule to a proprietary reference
panel of proteins to create a profile for each compound. Telik scientists
have created a database of profiles for tens of thousands of compounds,
and use sophisticated computational tools to search the database
and identify drug candidates more rapidly than with alternative
technologies.
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 candidate is
TLK286, a tumor activated small molecule drug that is in a Phase
3 registration clinical trial in ovarian cancer and in clinical
trials in non-small cell lung, colorectal and breast cancer. TLK199
is in a Phase 1-2a trial in myelodysplastic syndrome, a form of
pre-leukemia. 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 ability of
our TRAP technology to generate additional drug candidates, or the
potential for TLK286 or TLK199 to treat one or more types of cancer.
Telik can give no assurance with regard to these statements. The
application of TRAP to additional new drug discovery may not yield
additional product candidates. 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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