PALO ALTO, Calif., Aug. 5 Telik, Inc.(Nasdaq: TELK), today announced that Stefan Ryser has been appointed to thenewly created position of Senior Vice President, Corporate Strategy. Dr. Ryserbrings to Telik more than 20 years of executive and investment experience inthe biotechnology and pharmaceutical industries, including 10 years as anindependent Telik director.
Dr. Ryser most recently served as founding and managing partner of BearStearns Health Innoventures, a $212 million private equity fund established in2000. He also founded and managed, beginning in 1998, InternationalBiomedicine Management Partners, a biotechnology venture fund.
Previously, Dr. Ryser held various senior management positions ofincreasing responsibility at F. Hoffmann-La Roche, including ScientificAssistant to the President, Global Research and Development. While at Roche heled initiatives to assess the impact of emerging technologies onpharmaceutical research and development, and assisted in the establishment andmanagement of strategic research and development alliances. Dr. Ryser hasserved on numerous boards of directors in both public and privatebiotechnology companies.
"Dr. Ryser's extensive industry experience and knowledge of Telik make himan important addition to our management team, and strengthen Telik's abilityto achieve its key business goals," said Michael M. Wick, M.D., Ph.D., thecompany's Chairman and Chief Executive Officer.
"I am very pleased to join Telik," said Dr. Ryser, "and I look forward toworking with its dedicated team to realize the full potential of Telik'sproduct pipeline."
Telik, Inc. of Palo Alto, CA, is a biopharmaceutical company focused ondiscovering, developing, and commercializing novel small molecule drugs totreat serious diseases. The company's most advanced investigational drugcandidates in clinical development are TELINTRA(R), a modified glutathioneanalog for the treatment of cytopenias due to myelodysplastic syndrome orchemotherapy, and TELCYTA(R), a tumor-activated prodrug for the treatment ofadvanced ovarian cancer and non-small cell lung cancer. Telik's productcandidates were discovered using its proprietary drug discovery technology,TRAP(R), which enables the rapid and efficient discovery of small moleculedrug candidates.
This press release contains "forward-looking" statements, includingstatements regarding Dr. Ryser's potential contribution to Telik and Telik'sdevelopment of pipeline drugs and achievement of key business goals, as wellas statements concerning the future development of TELINTRA and TELCYTA anddiseases against which these drugs may be effective. These forward-lookingstatements are based upon Telik's current expectations. There are importantfactors that could cause Telik's results to differ materially from thoseindicated by these forward-looking statements. Detailed information regardingfactors that may cause actual results to differ materially from the resultsexpressed or implied by statements in this press release may be found inTelik's periodic filings with the Securities and Exchange Commission,including the factors described in the section entitled "Risk Factors" in itsquarterly report on Form 10-Q for the quarter ended March 31, 2008. Telik doesnot undertake any obligation to update forward-looking statements contained inthis press release.
TELIK, the Telik logo, TELINTRA, TELCYTA, and TRAP are trademarks orregistered trademarks of Telik, Inc.
SOURCE Telik, Inc.