Telik Announces Drug Development Collaboration With University of Arizona Cancer Center

Business Wire, Jan 9, 2001

Business Editors and Health/Medical Writers

SOUTH SAN FRANCISCO, Calif.--(BW HealthWire)--Jan. 9, 2001

Telik, Inc. (Nasdaq:TELK) today announced a collaboration with the Arizona Cancer Center at the University of Arizona to apply Telik's TRAP chemogenomics technology for the identification of small molecule compounds active against multiple cancer targets provided by Arizona Cancer Center researchers.

The Arizona Cancer Center will conduct biologic assays to screen TRAP-generated compounds for pharmacologic activity against cancer-related drug targets. Telik will have exclusive worldwide rights to develop and commercialize selected compounds arising from the collaboration, and will use the Arizona Cancer Center as a preferred clinical site for its oncology drug development programs arising from this collaboration.

"Telik's TRAP technology enables the rapid and efficient identification of active molecules, and it is particularly well-suited to bridge the broad basic cancer biology programs we have at Arizona," said Daniel D. Von Hoff, M.D., F.A.C.P., professor of medicine, molecular biology and pathology, and Arizona Cancer Center director. "The ability to identify active compounds after screening as few as 200 chemicals, rather than the industry standard of 200,000 to two million, permits our investigators to examine a much broader range of biologic targets as potential treatment strategies for cancer."

"This collaboration with an internationally recognized expert in cancer biology and drug development provides Telik with access to a broad cancer biology-based research platform that is much more robust than we could presently access internally," said Michael M. Wick, M.D., Ph.D., Telik's chairman and CEO. "We view our affiliation with the Arizona Cancer Center as the next step in the execution of our strategy to leverage TRAP for the rapid identification of cancer drug candidates for our pipeline. The ability to collaborate with Dr. Von Hoff and his group in the subsequent stages of drug development is also a very attractive feature of this relationship."

The Arizona Cancer Center is one of a group of prestigious institutions designated by the National Cancer Institute as a Comprehensive Cancer Center. The Arizona Cancer Center is located at the University of Arizona Health Sciences Center in Tucson, Arizona.

Telik, Inc. of South San Francisco, California, 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. All of Telik's product candidates were developed using the TRAP chemogenomics technology. The most advanced of these is TLK286, a cancer product candidate in Phase I testing at the University of California, Los Angeles Jonsson Comprehensive Cancer Center. TLK286 is being tested in cancer patients who have failed multiple courses of chemotherapy, radiation and experimental treatments. Interim results from the Phase I trial were presented in November at the annual NCI/EORTC/AACR Symposium on New Drugs in Cancer Therapy. TLK286 has been safely administered and well tolerated in this trial. In addition, evidence of clinical benefit, defined as disease stabilization or signs of clinical activity, has been observed. Based on these results, Telik plans to begin Phase II development of TLK286.

A second TRAP-generated small molecule drug candidate is TLK199, which is designed to increase white blood cell counts in cancer patients undergoing chemotherapy. Telik intends to file an investigational new drug application to begin clinical development of TLK199. Additional development programs based on TRAP include a family of insulin receptor activators for the treatment of Type 2 diabetes, and research programs in cancer, inflammatory diseases and stroke. Additional information is available at www.telik.com.

You should not rely on forward-looking statements contained in this press release including, but not limited to, statements regarding the potential for our collaboration with the Arizona Cancer Center to result in the identification or successful development of new oncology drug candidates, the preliminary safety and biologic activity of TLK286, and our future product pipeline. Telik can give no assurance with regard to these statements. Our collaboration with the Arizona Cancer Center may not produce cancer drug targets as planned. The preliminary results of Phase I clinical testing of TLK286 may not be indicative of the full results of the trial, or of future clinical trial results. We may be unable to obtain the necessary institutional approvals to proceed with Phase II testing of TLK286 in a timely manner. Our IND filing for TLK199 may not ultimately be approved. All of our product candidates are in the early stages of development, and the potential benefits of each product must still be proven. More detailed information is set forth under the caption "Risk Factors" in our prospectus filed with the Securities and Exchange Commission on August 11, 2000 and in our report on Form 10-Q filed on November 13, 2000. Telik assumes no obligation to update forward-looking information contained in this press release.