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Palo Alto, Calif., March 2, 2004 — Telik, Inc. (Nasdaq:
TELK) announced today that Roche has exercised its option to select
active lead compounds identified through its collaboration, signed
in April 2003. To identify the lead compounds, Telik used its proprietary
TRAP small molecule drug discovery technology to determine the molecules
active against a disease target selected by Roche. The successful
application of the TRAP technology will result in a milestone payment
to Telik.
“We are pleased that our TRAP technology has been successful
in this productive and efficient drug discovery effort,” said
Michael M. Wick, M.D., Ph.D., Telik’s chairman and chief
executive officer. “TRAP is the source of Telik’s
product pipeline, including TELCYTA™ and TELINTRA™.
We also have used TRAP selectively in collaborations with pharmaceutical
and biotechnology companies, as well as cancer research centers,
to identify biologically active molecules against a broad range
of disease targets.”
TRAP is based on the 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
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 the ability of
our TRAP technology to generate additional drug candidates. Telik
can give no assurance with regard to these statements. 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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