Telik's Proteasome Inhibitor Program Meets a Preclinical Development Milestone

PALO ALTO, Calif., August 21, 2008 /PRNewswire-FirstCall/ -- Telik, Inc. announced today that its novel small molecule proteasome inhibitor program met a preclinical development milestone by demonstrating anticancer activity in preclinical models of human leukemia. The proteasome is an important cellular structure necessary for the growth and function of cancer cells and inhibition of the proteasome has been shown to promote cell cycle arrest and cancer cell death or apoptosis. Bortezomib, an approved drug for the treatment of multiple myeloma, is based on this mechanism. Telik's proteasome inhibitors are orally active, non-peptide, non-boron based, and thus may lead to a drug candidate that might have advantages over Bortezomib and other proteasome inhibitors.

"The potentially favorable profile of these compounds was achieved through the use of our TRAP(R) computational drug discovery technology," said James Keck, Ph.D., Vice President of Biology at Telik. "We are currently conducting activities necessary to select a potential development candidate."

Preliminary data on Telik's proteasome inhibitor program was presented at the 2008 annual meeting of the American Association for Cancer Research.

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, 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 qualities and capabilities of drug candidates resulting from the small molecule proteasome inhibitor program described above, including the potential ability of such drug candidates to prevent or stop tumor cell division and starve tumors, and the potential development of any drug candidate to treat cancer. 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. 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, 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.

CONTACT: Patricia P. Frias, Corporate Communications of Telik, Inc.,+1-650-845-7927, pfrias@telik.com

Web site: http://www.telik.com/

Ticker Symbol: (NASDAQ-NMS:TELK)

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Posted: August 2008

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