|By PR Newswire||
|August 25, 2014 09:31 AM EDT||
SAN DIEGO, Aug. 25, 2014 /PRNewswire/ -- Telik, Inc. (OTCQB: TELK), a clinical stage oncology drug development company that merged with MabVax Therapeutics, Inc. on July 8, 2014, announced today it has received a $1.5 million contract for the Phase 2 portion of a Small Business Innovation Research (SBIR) contract from the National Cancer Institute (NCI). The contract is intended to support a major portion of the preclinical work being conducted by MabVax, together with its collaboration partner, Memorial Sloan-Kettering Cancer Center (MSKCC) to develop a novel Positron Emission Tomography (PET) imaging agent for detection and assessment of pancreatic cancer.
In August 2014, MabVax Therapeutics, Inc., the wholly owned subsidiary and primary business unit of Telik, Inc., and MSKCC completed the Phase 1 of the SBIR contract by successfully demonstrating the feasibility of the project enabling the follow-on contract award. The research contract accrues to Telik as a result of the July 2014 merger with MabVax.
J. David Hansen, Chief Executive Officer of Telik, commented, "Receiving the $1.5 million grant for the second phase of the NCI's research contract to develop a PET imaging agent for pancreatic cancer solidifies the preeminent position that the antibody discovery and development program developed by MabVax plays in the post-merger company. Given the inadequacy of early diagnostic screening techniques combined with typical late stage diagnosis, pancreatic cancer is the fourth most common cause of cancer-related death in the United States. As such, new diagnostic tools specific to pancreatic cancer have the potential to address the clear need for earlier detection, as well as improving treatment regiments utilizing targeted therapies. Our radiolabeled 5B1 antibody represents the only human-derived agent in development specifically aimed at improving imaging in pancreatic cancer."
The carbohydrate antigen sialyl-Lewisa (sLea) is expressed on pancreatic colon and stomach cancers cells at high levels where it is used as a tumor marker and presents an attractive molecular target. sLea facilitates tumor adhesion and extravasation that are key events for tumor metastasis, and thus presents a marker for the very cells that cause cancer recurrence. Increased sLea expression on tumors is correlated with poor clinical outcome. MabVax Therapeutics has generated fully human monoclonal antibodies against sLea with unusual high affinity for this carbohydrate ligand. MabVax discovered the 5B1 anti-sLea antibody from a patient who was vaccinated with a sLea anti-cancer vaccine that is licensed to MabVax Therapeutics from MSKCC.
About Telik and MabVax, Post-Merger
On July 8, 2014, Telik, Inc. merged with MabVax Therapeutics, Inc., a clinical stage biotechnology company focused on the development of vaccine and antibody based therapies to address unmet medical needs in the treatment of cancer. MabVax has discovered a pipeline of human monoclonal antibody products based on the protective immune responses generated by patients who have been immunized against targeted cancers. Therapeutic vaccines under development were discovered at MSKCC and are exclusively licensed to MabVax prior to the merger. The post-merger company is currently evaluating development programs under way at Telik prior to the merger, in addition to plans to continue developing the existing pipeline at MabVax. Additional information about the company is available at www.telik.com.
Forward Looking Statements
This press release contains "forward-looking statements" regarding matters that are not historical facts, including statements relating to diagnostic applications, pre-clinical and clinical development programs, and merger with MabVax Therapeutics, Inc. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," "plans," "expects," "intends," "will," "potential," "hope" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company 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 annual report on Form 10-K for the fiscal year ended December 31, 2013 and in the Proxy Statement dated July 25, 2014, as amended and supplemented from time to time. The parties do not undertake any obligation to update forward-looking statements contained in this press release.
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. Investors and security holders will be able to obtain free copies of documents about the company filed with the Securities and Exchange Commission (the "SEC") and by Telik through the website maintained by the company and the SEC at www.sec.gov. Copies of the documents filed with the SEC by Telik will also be available free of charge on Telik's website at www.telik.com. These documents can be obtained free of charge from the sources indicated above.
SOURCE Telik, Inc.
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
Feb. 21, 2017 07:45 AM EST Reads: 255
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Feb. 21, 2017 07:45 AM EST
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his Day 2 Keynote at @ThingsExpo, Henrik Kenani Dahlgren, Portfolio Marketing Manager at Ericsson, discussed how to plan to cooperate, partner, and form lasting all-star teams to change the...
Feb. 21, 2017 07:30 AM EST Reads: 4,143
"I think that everyone recognizes that for IoT to really realize its full potential and value that it is about creating ecosystems and marketplaces and that no single vendor is able to support what is required," explained Esmeralda Swartz, VP, Marketing Enterprise and Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Feb. 21, 2017 07:15 AM EST
When building large, cloud-based applications that operate at a high scale, it’s important to maintain a high availability and resilience to failures. In order to do that, you must be tolerant of failures, even in light of failures in other areas of your application. “Fly two mistakes high” is an old adage in the radio control airplane hobby. It means, fly high enough so that if you make a mistake, you can continue flying with room to still make mistakes. In his session at 18th Cloud Expo, Lee A...
Feb. 21, 2017 07:00 AM EST Reads: 5,226
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Feb. 21, 2017 04:30 AM EST Reads: 1,421
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
Feb. 21, 2017 03:45 AM EST Reads: 872
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at 20th Cloud Expo, Ed Featherston, director/senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Feb. 21, 2017 03:30 AM EST Reads: 3,591
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet and...
Feb. 21, 2017 03:30 AM EST Reads: 7,566
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
Feb. 21, 2017 03:00 AM EST Reads: 1,613
910Telecom exhibited at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and exchanges.
Feb. 21, 2017 02:45 AM EST Reads: 1,360
Whether you like it or not, DevOps is on track for a remarkable alliance with security. The SEC didn’t approve the merger. And your boss hasn’t heard anything about it. Yet, this unruly triumvirate will soon dominate and deliver DevSecOps faster, cheaper, better, and on an unprecedented scale. In his session at DevOps Summit, Frank Bunger, VP of Customer Success at ScriptRock, discussed how this cathartic moment will propel the DevOps movement from such stuff as dreams are made on to a practic...
Feb. 21, 2017 02:00 AM EST Reads: 4,580
As software becomes more and more complex, we, as software developers, have been splitting up our code into smaller and smaller components. This is also true for the environment in which we run our code: going from bare metal, to VMs to the modern-day Cloud Native world of containers, schedulers and micro services. While we have figured out how to run containerized applications in the cloud using schedulers, we've yet to come up with a good solution to bridge the gap between getting your contain...
Feb. 21, 2017 01:15 AM EST Reads: 3,286
The modern software development landscape consists of best practices and tools that allow teams to deliver software in a near-continuous manner. By adopting a culture of automation, measurement and sharing, the time to ship code has been greatly reduced, allowing for shorter release cycles and quicker feedback from customers and users. Still, with all of these tools and methods, how can teams stay on top of what is taking place across their infrastructure and codebase? Hopping between services a...
Feb. 21, 2017 01:00 AM EST Reads: 6,281
Niagara Networks exhibited at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Feb. 21, 2017 12:30 AM EST Reads: 727