PALO ALTO, Calif., Aug. 19 CA-Telik-ReceptorBio
PALO ALTO, Calif., Aug. 19 /PRNewswire-FirstCall/ -- Telik, Inc.
(Nasdaq: TELK) announced today that it has entered into a license agreement
with ReceptorBio, Inc. which would enable ReceptorBio to develop and
commercialize Telik's oral small molecule insulin receptor activators. These
compounds were identified through the application of TRAP(R), Telik's
proprietary drug discovery technology. The agreement provides for payments
related to regulatory milestones and royalties based on product sales.
Pre-clinical testing has indicated that these insulin receptor activators,
as single agents, lower glucose levels in models of diabetes. The compounds
are active in the presence of sub-maximal levels of insulin, and do not cause
hypoglycemia at the dose levels examined. This synergy with insulin suggests
the compounds could potentially be co-administered with other anti-diabetic
agents including insulin. The insulin receptor activating activity of these
compounds suggests that they may be attractive drug candidates for advancing
the treatment of Type 2 diabetes mellitus and the Insulin Resistance/Metabolic
Syndrome (Journal of Biological Chemistry (2002), 277, 43565-43571).
"Since Telik's development focus does not include metabolic diseases like
diabetes we have sought a licensee for this program," said Steve Schow, Ph.D.,
Telik's Vice President of Research. "We believe ReceptorBio's principals, who
are accomplished leaders in the field of diabetes treatment, have the
appropriate skills and experience to advance this program."
Telik, Inc. of Palo Alto, CA, is a biopharmaceutical company focused on
discovering, developing and commercializing novel small molecule drugs to
treat serious diseases. The company's most advanced investigational drug
candidates in clinical development are TELINTRA(R), a modified glutathione
analog for the treatment of cytopenias due to myelodysplastic syndrome or
chemotherapy, and TELCYTA(R), a tumor-activated prodrug for the treatment of
advanced ovarian cancer and non-small cell lung cancer. Telik's product
candidates were discovered using its proprietary drug discovery technology,
TRAP(R), which enables the rapid and efficient discovery of small molecule
drug candidates. Additional information is available at http://www.telik.com.
This press release contains "forward-looking" statements, including
statements regarding the potential capabilities and qualities of the small
molecule drugs described above and the potential capabilities of TELINTRA and
TELCYTA. These forward-looking statements are based upon Telik's current
expectations. There are important factors that could cause Telik's results to
differ materially from those indicated by these forward-looking statements.
These drugs have not been approved for testing in human subjects. Should
additional, pre-clinical testing indicate the drugs are not safe or effective,
or once approved if any clinical trial fails to establish the drugs' safety or
sufficient activity, the drugs will not be approved. If the drugs are shown
not to lower glucose levels or have synergy with insulin, the drugs are
unlikely to be approved. Detailed information regarding additional 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, including the
factors described in the section entitled "Risk Factors" in its quarterly
report on Form 10-Q for the quarter ended June 30, 2008. Telik does not
undertake any obligation to update forward-looking statements contained in
this press release.
TELIK, the Telik logo, TELINTRA, TELCYTA, and TRAP are trademarks or
registered trademarks of Telik, Inc.
SOURCE Telik, Inc.
