TELIK ANNOUNCES DRUG DISCOVERY COLLABORATION
WITH ROCHE
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.
About Telik
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.
About Roche
Headquartered in Basel, Switzerland, Roche is an innovation driven global healthcare leader focused on pharmaceuticals and diagnostics. Roche is world wide number one in diagnostics, oncology and transplantation and has a leading position in Virology. With products and services that address the prevention, diagnosis and treatment of diseases, the company contributes broadly to the enhancement of people’s health and quality of life. Roche employs some 62, 000 people in more than 150 countries around the world. The company has business alliances and R&D relationships with numerous partners, including majority ownership interests in Genentech and Chugai, which are both members of the Roche Group.
The 1000 women and men at the Roche Palo Alto research center in Palo Alto, Calif. are focused on the discovery and early clinical development of innovative medicines to treat diseases in the following areas: arthritis, asthma and other respiratory diseases; anxiety, depression, schizophrenia and other psychiatric diseases; genitourinary diseases, HIV/AIDS, and hepatitis C.
Following are URLs for Roche on the web:
Global website: www.roche.com.
U.S. pharmaceuticals business: www.rocheusa.com.
Roche Palo Alto: http://paloalto.roche.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.
