TELIK ANNOUNCES CONFIRMATORY RESULTS FROM SECOND PHASE 2 TRIAL OF TELCYTA™ (TLK286) IN ADVANCED OVARIAN CANCER

Palo Alto, CA, June 1, 2003 — Telik, Inc. (Nasdaq: TELK) announced positive interim results from a second Phase 2 clinical trial of TELCYTA™ (TLK286) administered as a single agent in women with platinum refractory or resistant ovarian cancer, that confirm the previous results of a previous Phase 2 trial in this patient population. The data were presented at the annual meeting of the American Society of Clinical Oncology in Chicago.

The interim results show a 17% objective response rate (three partial responses by RECIST criteria) and 56% overall disease stabilization rate in women with advanced, platinum refractory or resistant ovarian cancer. Responses were accompanied by clinical symptom improvement. Median duration of stable disease is greater than six months and ongoing. Median survival has not yet been reached. TELCYTA™ continues to be well-tolerated, with the most common adverse events categorized as Grade 1 or 2 (mild to moderate). Grade 3 adverse events were infrequent, and no Grade 4 adverse events were reported.

The interim analysis is based on 33 patients evaluable for survival and 18 patients evaluable for tumor response. All of the patients were either refractory or resistant to platinum, and 82% were resistant to paclitaxel and additional salvage therapies.

“These results confirm the clinical activity reported in the previous Phase 2 trial of TELCYTA™ in advanced ovarian cancer and support the ongoing Phase 3 registration trial of TELCYTA™ in the third-line ovarian cancer setting,” said Gail L. Brown, M.D., senior vice president and chief medical officer. “The interim results of this trial are comparable with those of the first ovarian cancer trial at a similar stage. This is encouraging because, in our earlier Phase 2 trial, clinical responses correlated with improved overall median survival. The efficacy, favorable toxicity profile and non-overlapping toxicities reported with TELCYTA™ now observed over a wide range of patient drug exposure, facilitate its use both as a single agent and in combination regimens in less advanced patients.”

“Further, we are pleased to report that the ovarian cancer patient in our earlier Phase 2 trial, whose complete response following TELCYTA™ treatment was first reported at the 2002 ASCO meeting, remains in complete remission and off all treatment for ovarian cancer,” Dr. Brown said. “This durable, long-term complete response is particularly encouraging because her disease was refractory to platinum therapy.”

In Phase 2 trials, TELCYTA™ has demonstrated clinical activity in breast, non-small cell lung and colorectal cancer, in addition to ovarian cancer. A high proportion of these tumors express GST P1-1, which activates TELCYTA™ within the tumor.

About Ovarian Cancer and TELCYTA™

Approximately 25,400 new cases of ovarian cancer will be diagnosed in 2003, according to the American Cancer Society. Ovarian cancer is the sixth most common cause of cancer-related deaths in the U.S.

TELCYTA™ is a small molecule prodrug which is activated by GST P1-1, an enzyme present in higher levels in many human cancers than in normal tissues. Upon activation, an intracellular process known as apoptosis, or programmed cell death, is initiated. TELCYTA™, which has been evaluated in clinical trials in more than 370 patients, was discovered through the application of Telik’s proprietary drug discovery technology, TRAP. Telik has retained worldwide commercialization rights.

About Telik, Inc.

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 TELCYTA™, in a Phase 3 registration trial in advanced ovarian cancer, and in earlier stage clinical trials in ovarian, non-small cell lung and breast cancer. Telik’s product candidates were discovered using its proprietary 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 our ability to successfully develop TELCYTA™ for the treatment of any cancer, its tolerability, potential efficacy or market potential. Telik can give no assurance with regard to these statements. None of our products have been determined to be safe or effective in humans or been approved for marketing. Substantial additional testing, including randomized, controlled clinical trials of TELCYTA™ will be necessary prior to seeking marketing approval. There can be no assurance that such trials will accrue sufficient patients, be conducted with sufficient quality, in a timely manner, have a successful outcome, or that regulatory approval will be obtained. In addition, we are reliant on external manufacturing, and any interruption or delay in drug supply could adversely affect the development program. 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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