Telik Announces Initiation of Third Phase 2 Clinical Trial With TLK286; Non-Small Cell Lung Cancer Trial Underway at Three Leading Cancer Centers.

Business Editors and Health/Medical Writers

SOUTH SAN FRANCISCO, Calif.--(BW HealthWire)--June 28, 2001

Telik, Inc. (Nasdaq:TELK) today announced that a Phase 2 clinical trial has begun with its TLK286 product candidate for the treatment of advanced non-small cell lung cancer. This trial follows the initiation of Phase 2 trials in colorectal cancer in March 2001 and ovarian cancer in May 2001.

The Phase 2 non-small cell lung cancer trial is initially being conducted at the University of Arizona Cancer Center under the direction of Linda Garland, M.D., the University of Texas M.D. Anderson Cancer Center under the direction of Vassiliki A. Papadamitrakopoulou, M.D., and the University of California, Los Angeles under the direction of Robert A. Figlin, M.D.

The trial is a multicenter, single arm, open label study in patients who have tumor progression following treatment with platinum-containing chemotherapy regimens. In this trial, the primary objective is to determine the percentage of patients surviving at twelve months and further evaluate safety, objective response rate, time to tumor progression, and overall survival. The patients will receive TLK286 once every three weeks until disease progression.

"The highest priority at Telik is the advancement of the TLK286 Phase 2 program," said Michael M. Wick, M.D., Ph.D., Chairman and CEO. "We have initiated three multicenter Phase 2 trials at leading cancer centers which include M.D. Anderson, Memorial Sloan- Kettering, Arizona Cancer Center, and UCLA Jonsson Comprehensive Cancer Center. We are on track to initiate trials at other major institutions in the coming months. We believe our success in initiating these studies is due in part to the tolerability and clinical benefits seen to date with TLK286 and to the critical need for new approaches for the treatment of refractory cancers."

"The clinical trial program at the University of Arizona Cancer Center also complements our ongoing research collaboration with Dr. Daniel Von Hoff and colleagues," said Dr. Wick. "Through this previously announced collaboration, the Arizona Cancer Center is conducting biologic assays to screen TRAP-generated compounds for pharmaceutical activity against cancer-related drug targets. Telik will have exclusive worldwide rights to develop and commercialize selected compounds arising from the collaboration."

In May 2001, Telik presented results from the Phase 1 trial of TLK286 at the annual meeting of the American Society of Clinical Oncology. The results included more than 50 patients who had been treated on two dosing schedules.

According to the American Cancer Society, lung cancer is the second most common cancer in the United States, and the most frequent cause of cancer mortality with approximately 169,500 new cases diagnosed in the U.S. in 2001. Approximately 321,400 people in the U.S. are living with a diagnosis of lung cancer, according to National Cancer Institute prevalence statistics.

TLK286 is a small molecule drug candidate that was developed through the application of Telik's proprietary TRAP chemogenomics technology. TLK286 has a novel mechanism of activation that targets tumors that over-express GST P1-1, a protein that plays an important role in the development of resistance to commonly used chemotherapeutic drugs. Its mechanism of activation in tumor cells suggests a potentially safer, more effective, and directed cancer drug against resistant cancers.

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 drug development programs include: TLK286, a tumor-activated drug candidate for the treatment of major cancers that are resistant to standard treatments, currently in Phase 2 studies in colorectal and ovarian cancer; TLK199, a candidate for the treatment of low white blood cell levels that occur as a toxic side effect of cancer therapy as well as in other blood diseases such as myelodysplastic syndrome, a pre-leukemic condition; and a family of orally active insulin receptor activators for Type 2 diabetes. Telik's product candidates were discovered using its proprietary 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 including, but not limited to, statements regarding the safety and biologic activity of TLK286, its potential in the treatment of one or more forms of cancer, Telik's anticipated timing for the initiation of additional Phase 2 trials, anticipated additional locations for these trials or Telik's future product pipeline. Telik can give no assurance with regard to these statements. The results of Phase 1 trials in a limited number of patients at a single treatment center may not be indicative of results that may be observed in larger clinical trials, including randomized, controlled multicenter trials. TLK286 may prove safe and effective in only certain tumor types, if any. Telik may be unable to obtain the necessary institutional approvals to proceed with additional Phase 2 trials in a timely manner, if at all, and Telik is solely dependent upon a single manufacturer of clinical grade material at this point. All of our product candidates are in the early stages of development, and the potential benefits of each product must still be proven. 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 under the caption "Certain Business Risks" in Telik's report on Form 10-K for the year ended December 31, 2000 and report Form 10-Q for the quarter ended March 31, 2001 filed with the Securities and Exchange Commission. Telik assumes no obligation to update any information in this press release.