Telik Presents New Data On TLK286 Mechanism of Action.

Business Editors/Health & Medical Writers

SOUTH SAN FRANCISCO, Calif.--(BW HealthWire)--Oct. 31, 2001

Telik, Inc. (Nasdaq: TELK) today announced the presentation of new data on the molecular events involved in TLK286-induced apoptosis (programmed cell death). TLK286 is a small molecule drug candidate that is currently being evaluated in multicenter Phase 2 clinical trials in colorectal, ovarian and non-small cell lung cancers. The data are being presented today at the AACR-NCI-EORTC(1) International Conference on Molecular Targets and Cancer Therapeutics in Miami, FL.

"TLK286 is a novel anti-tumor drug candidate that has now been shown to produce apoptosis in a concentration and time-dependent manner," said James G. Keck, Ph.D., Vice President, Biology Research. "The data presented supports the novel mechanism of action of TLK286 and contributes significantly to our ongoing clinical development program."

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 action that targets glutathione S-transferase (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 selective, more effective, and directed cancer drug, especially against resistant cancers.

Telik's TRAP chemogenomics technology enables the rapid and efficient discovery of small molecule product candidates. TRAP exploits the fundamental principle that pharmaceutically active molecules cause their effects in the body by interacting with proteins. By developing a profile of how a panel of reference proteins interacts with small molecules, Telik is able to model a disease target protein and identify product candidates more rapidly than with alternative technologies.

Telik management will conduct a conference call and live webcast today at 3:00 p.m. Eastern time to discuss its presentations at the AACR-NCI-EORTC meeting and its third quarter 2001 financial results. Please visit www.telik.com to access the webcast. A replay of the webcast will be available from approximately 6:00 p.m. Eastern time on October 31 through November 7, 2001.

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 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, ovarian and non-small cell lung cancers; 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 preleukemic 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 apoptotic pathway of TLK286, current or future clinical trials, or the potential for its successful clinical development. Telik can give no assurance with regard to these statements. The results of the Phase 1 trial of TLK286 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. We may be unable to obtain the necessary institutional approvals to proceed with additional Phase 2 testing in a timely manner, if at all, and we are dependent upon a single manufacturer of clinical material. The additional product candidates mentioned in this press release (including TKL199 and the insulin receptor activators) are in the early stages of development, and the potential benefits of each 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 in Telik's periodic filings with the Securities and Exchange Commission. Telik assumes no obligation to update any information in this press release

(1) AACR-NCI-EORTC: American Association for Cancer Research - National Cancer Institute - European Organization for Research and Treatment of Cancer