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Tikcro Technologies Reports 2008 Third Quarter Results and Management Change

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^{Published in Science and Technology on Thursday, November 27th 2008 at 8:02 GMT by Market Wire}  

TEL AVIV, Israel--([ BUSINESS WIRE ])--Tikcro Technologies Ltd. (OTC BB: TIKRF) today reported results for the third quarter and nine months ended September 30, 2008.

Net income for the third quarter was $550,000, or $0.07 per share. Net income for the nine months ended September 30, 2008 was $479,000 or $0.06 per share. Net income in the third quarter was a result of financial income from Tikcro's holdings in BioCancell Therapeutics, Inc., a clinical-stage biopharmaceutical company operating in the area of cancer treatment. As of September 30, 2008 the Company had cash and marketable securities totaling $7.8 million.

In July 2008, Tikcro acquired common stock, a convertible note and a warrant of BioCancell for a total consideration of $2.5 million. BioCancell is currently conducting a Phase IIb clinical trial using its leading drug, BC-819, for the treatment of superficial bladder carcinoma cancer. BioCancell is also at an advanced stage of receiving an approval to conduct Phase I clinical trials for the treatment of ovarian cancer and for the treatment of pancreatic cancer.

In addition, Tikcro announced that it has appointed Mr. Eric Paneth, a member of the Board of Directors, as its Chief Executive Officer. Mr. Paneth has agreed to serve as Chief Executive Officer for no consideration. As noted in the Company's prior SEC filings, Mr. Aviv Boim, Tikcro's former Chief Executive Officer, will continue to serve as Tikcro's nominee to the Board of Directors of BioCancell.

About Tikcro Technologies:

Tikcro is a company traded on the OTC Bulletin Board. Tikcro has holdings in BioCancell Therapeutics, Inc., a clinical-stage biopharmaceutical company operating in the area of cancer treatment. Tikcro is headquartered in Tel Aviv, Israel. For more information, visit Tikcro website at [ www.tikcro.com ].

Safe Harbor Statement

Certain of the statements contained herein may be considered forward-looking statements that involve risks and uncertainties including, but not limited to, risks related to our ability to raise financing and the business of BioCancell, including, but not limited to, the development, testing, regulatory approval and commercialization of its products, its intellectual property rights, its funding, its competition, its exposure to lawsuits and its dependence on key suppliers and personnel. Such risks and uncertainties are set forth in the Company's SEC reports, including the Company's Form 20-F. Actual results may materially differ. Results of operations in any past period should not be considered indicative of the results to be expected for future periods.We undertake no duty to update any forward-looking information.