PALO ALTO, Calif., Nov. 2, 2010 /PRNewswire/ — Telik, Inc.
TELK) a clinical stage drug development company focused on
developing drugs to treat cancer, announced that it has been
awarded grants totaling $1,222,396 under the U.S. Government’s
Qualifying Therapeutic Discovery Project (QTDP). The grants
are intended to advance five of Telik’s ongoing therapeutic drug
development programs including the company’s most advanced
investigational drug candidate, TELINTRA®, for the treatment of
myelodysplastic syndrome (MDS).
“We are pleased that all five of the grant applications
submitted under this program were awarded the maximum allocation,”
said Dr. Michael Wick, Telik Chairman and Chief Executive Officer.
“These funds will provide non-dilutive capital for advancing our
clinical development programs in oncology, an area of unmet medical
A Qualifying Therapeutic Discovery Project is one designed to
either treat or prevent diseases or conditions by conducting
studies or carrying out research protocols for the purpose of
securing approval from the Food and Drug Administration.
Qualifying companies must have 250 or fewer employees.
The award payments were authorized on October 29, 2010.
Telik, Inc. of Palo Alto, CA, is a clinical stage drug
development company focused on discovering and developing small
molecule drugs to treat cancer. The company’s most advanced
drug candidates in clinical development are Telintra, a modified
glutathione analog for the treatment of MDS and Severe Chronic
Neutropenia (SCN), and Telcyta®, a cancer activated prodrug.
Telik’s product candidates were discovered using its
proprietary drug discovery technology, TRAP®, which enables the
rapid and efficient discovery of small molecule drug
Telik, the Telik logo, TELINTRA, TELCYTA and TRAP a