Theralase® Achieves Third Place in the Clean Technology and Life Sciences Category on the 2019 TSX Venture 50
Toronto, Ontario – February 28, 2019
Theralase Technologies Inc. (“Theralase®” or the “Company”) (TSXV: TLT) (OTCQB: TLTFF), a clinical stage pharmaceutical company dedicated to the research and development of light activated Photo Dynamic Compounds (“PDCs”) and their associated drug formulations intended to safely and effectively destroy various cancers has been named third place on the 2019 TSX Venture 50TM in the Clean Technology & Life Sciences sector amongst all TSX Venture Exchange listed companies. The ranking is comprised of ten companies from each of five industry sectors, selected based on three equally weighted criteria: market capitalization growth, share price appreciation and trading volume amount. Theralase is a previous winner of the 2015 TSX Venture 50TM.
Dr. Shawn Shirazi, Ph.D., Chief Executive Officer – Drug Division, Theralase® stated that, “Theralase’s achievement of third place in the 2019 TSX Venture 50TM top performing companies is a strong indication of the value that the Company has delivered to shareholders last year. In 2018, Theralase® successfully completed a Phase Ib Non-Muscle Invasive Bladder Cancer (“NMIBC“) clinical study and in 2019 is focused on the commencement of a Phase II NMIBC clinical study, with a primary endpoint of efficacy. The Phase Ib clinical study recently demonstrated that even a single treatment of Theralase’s Anti-Cancer Technology (“ACT“) is able to achieve a complete response at 360 days post treatment for patients presenting with Bacillus Calmete Guérin – Unresponsive NMIBC. I want to thank all our stakeholders in the achievement of this objective, including: directors, officers, management, employees, the clinical team, the scientific team, the engineering team and of course the patients, who participated in the clinical study.”
Kipton Lade, B.Sc., M.Sc., MBA., Chief Executive Officer – Device Division, Theralase® stated, “Building on a strong foundation, Theralase® has had a landmark year in 2018; however, the Company is not content to rest on its laurels. We strongly believe that Theralase’s anti-pain technology and ACT have the potential to be the next gold standard in the treatment of chronic pain and NMIBC, respectively. The Theralase® ACT is also multi-faceted, in that the technology is able to be commercialized in the treatment of additional cancer indications, if successfully validated in independent clinical studies. Pending successful commencement of the Phase II NMIBC clinical study in 2019, the Company plans to investigate the commencement of an additional Phase Ib clinical study for a new cancer indication.”
About Theralase® Technologies Inc.
Theralase® is a clinical stage pharmaceutical company dedicated to the research and development of light activated Photo Dynamic Compounds and their associated drug formulations intended to safely and effectively destroy various cancers.
This news release contains “forward-looking statements” which reflect the current expectations of management of the Corporation’s future growth, results of operations, performance and business prospects and opportunities. Such statements include, but are not limited to, statements regarding Theralase’s proposed development plans with respect to Photo Dynamic Compounds and their drug formulations. Wherever possible, words such as “may”, “would”, “could”, “should”, “will”, “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”,”potential for” and similar expressions have been used to identify these forward-looking statements. These statements reflect management’s current beliefs with respect to future events and are based on information currently available to management. Forward-looking statements involve significant risks, uncertainties and assumptions including with respect to the ability of Theralase to: successfully fund and complete a Phase II NMIBC clinical study, successfully fund and complete a Phase Ib GBM clinical study, successfully fund and complete a Phase Ib NSCLC clinical study, secure the requisite regulatory approvals to commence and fund a Phase II NMIBC clinical study, Phase Ib GBM clinical study and/or a Phase Ib NSCLC clinical study and implement its development plans. Many factors could cause the Corporation’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements; including, without limitation, those listed in the filings made by the Corporation with the Canadian securities regulatory authorities (which may be viewed at www.sedar.com). Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully and prospective investors should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in the press release are based upon what management currently believes to be reasonable assumptions, the Corporation cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements. The Corporation disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise except as required by law. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchanges) accepts responsibility for the adequacy or accuracy of this release.
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