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ReceptorBio Announces Diabetes License Agreement With Telik
Date:8/19/2008

FOSTER CITY, Calif., Aug. 19 /PRNewswire-FirstCall/ -- ReceptorBio, Inc. announced today that it has entered into a license agreement with Telik, Inc. (Palo Alto, CA) (Nasdaq: TELK) that would enable ReceptorBio to develop and commercialize Telik's unique, oral small molecule insulin receptor activators. These compounds were identified through the application of TRAP(R), Telik's proprietary drug discovery technology. The agreement provides for payments related to regulatory milestones and royalties based on product sales.

Pre-clinical testing has indicated that these insulin receptor activators, as single agents, lower glucose levels in models of diabetes. The compounds are active in the presence of sub-maximal levels of insulin, and do not cause hypoglycemia at the dose levels examined. This synergy with insulin suggests the compounds could potentially be co-administered with other anti-diabetic agents including insulin. The insulin receptor activating activity of these compounds suggests that they may be attractive drug candidates for advancing the treatment of Type 2 diabetes mellitus (T2D) and the Insulin Resistance/Metabolic Syndrome (Journal of Biological Chemistry (2002), 277, 43565-43571).

"ReceptorBio is very enthusiastic about gaining the opportunity to continue the development of the insulin receptor activator compounds discovered by Telik," said Joseph Evans, Ph.D., ReceptorBio's Co-founder and President. "These compounds have a unique mechanism of action directed against a validated drug target, the insulin receptor, and thus they represent a novel class of insulin sensitizers."

"The oral agents currently available on the market for the treatment of T2D are limited, and may be associated with undesirable side effects," added David Klonoff, M.D., ReceptorBio's Co-founder and Chairman of its Clinical Advisory Board. "A drug that acts by targeting and activating the insulin receptor should provide a novel treatment for this disease, both as a single agent, and in combination with other drugs that have complimentary mechanisms of action."

ReceptorBio, Inc. is an early stage biopharmaceutical company located in Foster City, CA with plans to develop orally active pharmaceuticals for the treatment of T2D and related diseases including obesity, and the insulin resistance/metabolic syndrome which has been associated with a markedly increased risk of cardiovascular disease. The Company's initial focus will be on the clinical development of its lead compound, RB101, believed to activate the insulin receptor tyrosine kinase (IRTK), a recognized drug target for T2D. IRTK activation is one of the early signaling events required to mediate insulin's physiologically effects on glycemic control. Currently, there are no FDA-approved drugs that have this mechanism of action. ReceptorBio believes its novel agents are thus positioned to be first in their class, with a mechanism of action that may be compatible for use both as a single agent and in combination with existing medications for T2D.

The founders and management team of ReceptorBio have a long and successful history of accomplishments in T2D research and drug development. Joseph L. Evans, Ph.D., ReceptorBio President, has over twenty years experience in the research, development, and pharmacology of therapeutics for T2D and obesity, including positions of increasing responsibility in drug discovery and development at Sandoz (now Novartis), Shaman, SUGEN, Telik, and Leptogen. David Klonoff, M.D., FACP, ReceptorBio Director and Chairman of the Clinical Advisory Board, is a Clinical Professor of Medicine at the University of California, San Francisco. In addition, Dr. Klonoff is Medical Director of the Dorothy L. and James E. Frank Diabetes Research Institute of Mills-Peninsula Health Services (San Mateo, CA). Dr. Klonoff is the founding editor-in-chief of Journal of Diabetes Science and Technology, published by the Diabetes Technology Society, also founded by Dr. Klonoff. Dr Klonoff is also a Medical Officer of the U.S. Army Telemedicine and Advanced Technology Research Center in the areas of biosensors and physiologic monitoring. Ira D. Goldfine, M.D., FACP, Chairman of the Scientific Advisory Board, is a Professor of Medicine and Physiology at the University of California at San Francisco. He is also Director of Diabetes and Endocrine Research at Mt. Zion Hospital (San Francisco, CA). His research focuses on the molecular basis of T2D, and he has been a pioneer in the area of identifying new agents that activate the IRTK. Dr. Goldfine has received the Rosenthal Award from American College of Physicians and the Mount Zion Distinguished Alumni Award. Dr. Goldfine is past president of the American Diabetes Association, Western Region.


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SOURCE ReceptorBio, Inc.
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