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ONO PHARMACEUTICAL MAKES ADDITIONAL EQUITY INVESTMENT IN TELIOS

 ONO PHARMACEUTICAL MAKES ADDITIONAL EQUITY INVESTMENT IN TELIOS
 SAN DIEGO, Oct. 9 /PRNewswire/ -- Telios Pharmaceuticals Inc. (NASDAQ: TLIO) announced that Ono Pharmaceutical Co. Ltd. of Osaka, Japan, had purchased 500,000 shares of Telios common stock at $10 per share. This investment represented the exercise of a right which was granted to Ono under an agreement entered into by Telios and Ono in August 1990. That agreement provided Ono rights to certain products developed by Telios which are based upon Telios' proprietary matrix peptide technology. This purchase represents the third and final opportunity granted to Ono under the August 1990 agreement to purchase Telios common stock. Ono's stake in Telios stands at 2.2 million shares of common stock, or approximately 11 percent of the common stock outstanding.
 The two companies are currently collaborating on the development of two products, Decorin and OcuNex. Decorin, a product in development to treat fibrotic diseases, is in pre-clinical studies to demonstrate efficacy in the treatment of certain kidney diseases. OcuNex is currently in Phase II human clinical studies for the treatment of corneal damage associated with severe dry eye.
 Telios is developing a new class of therapeutic products based upon research into the role of the extracellular matrix. The company is applying its proprietary technology to develop products for the treatment of severe and chronic dermal wounds, ophthalmic wounds, fibrotic disease, cardiovascular disease, and osteoporosis.
 The common stock of Telios is traded on the NASDAQ National Market System under the symbol TLIO.
 -0- 10/9/92
 /CONTACT: Audrey D. Keane, director of corporate development of Telios Pharmaceuticals, 619-622-2615/
 (TLIO) CO: Telios Pharmaceuticals Inc.; Ono Pharmaceutical Co. Ltd. ST: California IN: MTC SU: JVN


BP -- SD004 -- 8483 10/09/92 16:12 EDT
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Publication:PR Newswire
Date:Oct 9, 1992
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