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Biotech / Medical : Tularik Inc. (TLRK)

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To: nigel bates who wrote (518)	10/14/2003 3:01:34 PM
From: tuck	of 598

>>SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Oct. 14, 2003--Tularik Inc. (Nasdaq:TLRK - News) announced today the achievement of the first milestones under its collaboration agreement with Amgen Inc. (Nasdaq:AMGN - News) to discover, develop and commercialize therapeutics aimed at oncology targets. Amgen has selected for optimization two compounds identified by Tularik, each directed against a different target, resulting in the payment of two milestones. In May of this year, Tularik and Amgen entered into a five-year collaboration that included multiple drug discovery and development programs. In addition to committed funding of $125 million, Tularik will receive royalty payments and escalating milestone payments as compounds are selected and progress to market approval. Aggregate milestone payments for compounds active against each oncology target could reach $21 million. "The rapid accomplishment of these collaboration milestones demonstrates the power and value of Tularik's drug discovery engine," said Terry Rosen, Ph.D., Tularik's Executive Vice President of Operations. "We've enjoyed a productive collaboration with Amgen and are confident that these will be the first of many milestones achieved." << snip Cheers, Tuck

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