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Biotech / Medical : TELK -- Telik, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (2)	10/6/2000 9:47:27 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 887

Thursday October 5, 8:09 am Eastern Time Press Release Telik Announces Allowance of European Patent for TLK199 SOUTH SAN FRANCISCO, Calif.--(BW HealthWire)--Oct. 5, 2000--Telik, Inc. (Nasdaq:TELK - news) today announced that the European Patent Office has issued a Decision to Grant EP 720 620, ``Glutathione Analogs and Paralog Panels Comprising Glutathione Mimics.'' This patent covers TLK199, Telik's small molecule product candidate intended for the treatment of low white blood cell levels, a toxic side effect in cancer patients undergoing chemotherapy. The claims of the patent cover compositions of matter and uses of TLK199 and are similar to those of Telik's issued U.S. patent for TLK199 (U.S. 5,679,643). ``The allowance of our patent for TLK199 in Europe extends Telik's significant intellectual property portfolio,'' said Michael M. Wick, M.D., Ph.D., chairman and chief executive officer. ``We currently have nearly 100 issued patents and approximately 100 pending patents or patent applications worldwide that apply to our current lead drug candidates, including TLK286 and TLK199 as well as TRAP, our chemogenomics drug discovery technology.'' TLK199 is currently in preclinical development to support the initiation of clinical trials. If these studies are successfully completed, Telik anticipates filing an Investigational New Drug (IND) application in 2001 for U.S. Food and Drug Administration (FDA) clearance to begin clinical testing of TLK199. 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. The company's most advanced development programs are for the treatment of cancer and diabetes. Telik's product candidates were all discovered using its proprietary technology known as 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, but not limited to, statements regarding the extent to which our issued and pending patents will protect our products and technology, our ability to successfully complete the preclinical development of TLK199, and our anticipated timing for filing an IND for TLK199. Telik can give no assurance with regard to these statements. Our patents may not provide adequate protection for our products and technology and may be subject to costly and time-consuming litigation that may ultimately prove unsuccessful. Preclinical studies for TLK199 might not support further development for its intended use. Our IND filing for TLK199 may be delayed beyond 2001 and may not ultimately be approved by the FDA, thus precluding clinical development. More detailed information regarding risk factors is set forth under the caption ``Risk Factors'' in our prospectus filed with the Securities and Exchange Commission on August 11, 2000. Contact: Telik, Inc., South San Francisco Carol DeGuzman, 650/325-3370 cdeguzman@telik.com