Theralase Announces Leadership Transition
Toronto, Ontario – October 31, 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 (“PDC”) and associated drug formulations, announced today the departure of its Chief Executive Officer – Device Division, Kipton Lade from the Company. Effective immediately, Shawn Shirazi, Ph.D., Chief Executive Officer – Drug Division, has agreed to become the sole CEO of the Company and will work with the Board to begin a search to identify a new leader to guide the Device Division in its next phase of growth.
“We thank Kipton for his contributions to the Company over the last 8 months and we wish him well,” said Theralase Technologies Chairman of the Board of Directors, Guy Anderson. “We are also excited with the prospects of the TLD-1433 Anti-Cancer Technology (“ACT”) platform as it has the potential to be a viable treatment solution for patients who present with Carcinoma In-Situ (“CIS”) Non-Muscle Invasive Bladder Cancer (“NMIBC”) and who are considered Bacillus Calmette-Guerin (“BCG”)-Unresponsive.”
The Company has commenced a Phase II NMIBC clinical study to enroll and treat patients who present with CIS and who are considered BCG-Unresponsive or are intolerant to BCG Therapy (“Study II”). The Company has three sites open for patient enrollment and treatment; specifically, University Health Network (“UHN”), McGill University Health Centre (“MUHC”) and London Health Sciences Centre (“LHSC”). All sites are actively recruiting and screening new patients for enrollment in Study II. In addition, the Company has approximately six clinical study sites located in Canada and the US that are at various stages of the on-boarding process. The Company is specifically targeting strategic clinical sites throughout Canada and the US (subject to FDA Investigational New Drug (“IND”) approval) that serve large populations or have the demographics to support patient enrollment and treatment. The Company anticipates that patient enrollment and treatment will escalate rapidly as it launches additional clinical study sites.
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 the Company’s management of future growth, results of operations, performance and business prospects and opportunities. Such statements include, but are not limited to, statements regarding the Company’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 the Company to: adequately fund, secure the requisite regulatory approvals to commence and successfully complete a Phase II NMIBC clinical study in a timely fashion and implement its development plans. Many factors could cause the Company’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 Company 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 Company cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements. The Company 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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