Wednesday July 31, 1:47 pm Eastern Time
Press Release
SOURCE: Telik, Inc.
Telik Announces Selection of Diabetes Product Candidate and Patent Allowances
SOUTH SAN FRANCISCO, Calif., July 31 /PRNewswire-FirstCall/ -- Telik, Inc. (Nasdaq: TELK - News) announced that it has selected TLK19781, a small molecule drug candidate for the potential treatment of diabetes and other conditions related to insulin resistance, as the next product candidate to enter its clinical development pipeline. TLK19781 is one of a family of novel, proprietary, orally active small molecule insulin receptor activators Telik has identified through the application of its proprietary TRAP drug discovery technology. Telik also announced that it has received notices of allowance from the U.S. Patent and Trademark Office for three patents covering the composition of matter and uses of these and other insulin receptor activator compounds.
"Our goal is to file an Investigational New Drug application with the FDA in 2003 for initiation of clinical development of TLK19781, assuming successful completion of pre-IND enabling studies," said Robert T. Lum, Ph.D., vice president, preclinical development.
"The recently allowed U.S. patents cover TLK19781 as well as additional structural families of novel insulin receptor activators," said Dr. Lum. "We believe these patents, along with others that have been issued or filed, provide an excellent intellectual property base to support our development program."
In preclinical studies, orally administered TLK19781 has been shown to activate insulin receptors and cause enhanced glucose transport into muscle and liver cells and improvement in blood sugar levels in several animal models of diabetes.
Telik has retained worldwide commercial rights to TLK19781 and its other insulin receptor activator compounds except in Japan and other Asian countries, where its collaborative partner, Sanwa Kagaku Kenkyusho Co., Ltd. has exclusive rights.
Telik, Inc. of South San Francisco, 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 Phase 2 clinical trials in ovarian, non-small cell lung, colorectal and breast cancer. 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.
You should not rely on forward-looking statements contained in this press release. Telik can give no assurance with regard to these statements, as they are subject to various risks and uncertainties. All of Telik's product candidates, including TLK19781 and TLK286, are in the early stages of development, and the potential benefits of each must still be proven. Substantial preclinical and toxicology testing of TLK19781 will be required prior to filing an Investigational New Drug (IND) application for Food and Drug Administration clearance to begin clinical development of TLK19781, and there can be no assurance that the results of this testing will provide the efficacy and safety data required to support clinical development. 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.
SOURCE: Telik, Inc. |
