TELIK ANNOUNCES POSITIVE INTERIM RESULTS FROM PHASE 1-2a TRIAL OF TELCYTA™ (TLK286) IN COMBINATION WITH DOXIL®

Palo Alto, CA, October 21, 2003 — Telik, Inc. (Nasdaq: TELK) announced positive interim results from its Phase 1-2a clinical trial of the combination of TELCYTA™ and Doxil® in patients with platinum refractory or resistant ovarian cancer. At the time of interim analysis, the dose escalation phase of the study has been completed and three patients who received full doses of TELCYTA™ (960 mg/m2) and Doxil® (50mg/m2) are evaluable. One of three patients has an objective tumor response by the RECIST criteria and two patients have stable disease. The longest duration of treatment with this combination is greater than 10 months (10+ cycles). The interim results suggest that TELCYTA™ and Doxil® may be administered in a combination regimen using the full dose of each drug. Patient enrollment and treatment continue at the full dose level.

These data follow the previously reported single agent anti-tumor activity of TELCYTA™ confirmed in two Phase 2 trials in ovarian cancer, and represent an important step in the product development process to establish potential use in less advanced cancer patients. Telik intends to present additional results from this clinical trial at the American Association of Cancer Research — National Cancer Institute — European Organization for Research and Treatment of Cancer - International Conference on Molecular Targets and Cancer Therapeutics in November 2003.

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™. 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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