Toronto, Ontario – June 6, 2023, Theralase® Technologies Inc. (“Theralase®” or the “Company”) (TSXV: TLT) (OTCQB: TLTFF), a clinical stage pharmaceutical company focused on the research and development of light-activated Photo Dynamic Compounds (“PDCs”) and their associated drug formulations, used to safely and effectively destroy various cancers, bacteria and viruses, is pleased to announce the appointment of new independent director, Kaouthar Lbiati, M.D., M.Sc.
Dr. Lbiati received her Doctor of Medicine from Rabat, Morocco’s Mohammed V University and a post-doctorate in clinical oncology from Gustave Roussy Institute in Paris, which is a premier European cancer center and one of the five most prominent cancer centers in the world. She holds a specialized executive master’s degree in strategy and management from ESSEC Business School in Paris, a master’s degree in international policy and health economics from the London School of Economics, a corporate governance certification from Columbia Business School and finance certification from Harvard Business School.
Dr. Lbiati is an internationally trained medical doctor, who utilizes her extensive clinical and business background to assist biopharmaceutical organizations to achieve their strategic objectives through: systematic achievement of their value inflection milestones, partnering of their promising drug candidates with large international pharmaceutical companies and ultimately increasing shareholder value.
Since 2022, Dr. Lbiati has been on the board of directors of Hepion Pharmaceuticals; a US public biotech (NASDAQ: HEPA) where she currently chairs the strategic planning committee and is member of the audit, science, nomination and governance committees.
Prior to serving on the board of Hepion, Dr. Lbiati has been employed in executive and non-executive roles for: Cytovia Therapeutics, Steba Biotech and Immune Pharmaceuticals. She has been instrumental in helping these organizations: better define their corporate and business strategy, prioritize their pipeline, optimize technology platforms and effectively communicate their value proposition to international investors and partners, in order to secure funding, strategic partnerships and business development arrangements.
Previous to these roles, Dr. Lbiati served, for over a decade, in global and regional leadership roles at Amgen, Sanofi, GlaxoSmithKline and AstraZeneca, in the United States, Europe, United Kingdom, Middle East and North Africa with a focus on: medical affairs, strategic planning, market access, health economics and outcomes research, across various stages of the drug development life-cycle.
Dr. Lbiati stated that, “I am very excited to finally get involved with the Canadian biotech ecosystem and I look forward to assisting Theralase® achieve its strategic objectives of commercialization through partnering of its lead pharmaceutical drug with large pharmaceutical organizations in North America and internationally. Theralase® is at an inflection point in its drug development pipeline and I believe this highly promising Canadian-born Anti-Cancer Therapy (“ACT”) is on the verge of demonstrating to the world the safety and efficacy that this platform truly bring to patients inflicted with cancer; firstly for patients diagnosed with Bacillus Calmette-Guérin (“BCG”)-Unresponsive Non-Muscle Invasive Bladder Cancer (“NMIBC”), who are running out of therapeutic options and are facing bladder removal surgery.”
Matthew Perraton, PFP, FMA, FCSI, Pro. Dir., Chairman of the Board of Theralase®, stated, “We are thrilled to welcome an individual of this caliber to our Board. Dr. Lbiati possesses a wealth of international experience across all aspects of drug development, from: clinical research to medical affairs, marketing to commercialization of various drug candidates. Her expertise comes at an opportune time, as we have made great strides in our Phase II BCG-Unresponsive NMIBC clinical study (“Study II”), whose strong interim clinical data verifies that light-activated Ruvidar™ is a potent Photo Dynamic Compound (“PDC”) that is capable of destroying high-grade bladder cancer and providing a durable response to this disease, while providing a very high safety profile for the treated patient. Based on this latest interim clinical data, the Company is commencing to actively explore international partnering, licensing and distribution opportunities for our cancer targeting PDC, Ruvidar™.”
About Study II
Study II utilizes the therapeutic dose of RuvidarTM (0.70 mg/cm2) activated by the proprietary TLC-3200 (90 J/cm2) medical laser system. Study II is focused on enrolling and treating approximately 100 to 125 BCG-Unresponsive NMIBC CIS patients in up to 15 clinical study sites located in Canada and the United States.
About TLD-1433 (Ruvidar™)
TLD-1433 is a patented PDC with over 12 years of published peer reviewed preclinical research and is currently under clinical investigation in Study II. The trade name Ruvidar™ was selected by the Company, as Ru is the element symbol for Ruthenium, a rare transition metal belonging to the platinum group, which the Theralase® PDC is based upon, vita is Latin for life and dar is Russian for gift; hence, roughly translated, “Ruthenium, the gift of life”.
About Theralase® Technologies Inc.
Theralase® is a clinical stage pharmaceutical company dedicated to the research and development of light activated compounds and their associated drug formulations with a primary objective of efficacy and a secondary objective of safety in the destruction of various cancers, bacteria and viruses.
Additional information is available at www.theralase.com and www.sedar.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statement
This news release contains “forward-looking statements” within the meaning of applicable Canadian securities laws. 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 and a COVID-19 vaccine. Forward looking statements may be identified by the use of the words “may, “should“, “will“, “anticipates“, “believes“, “plans“, “expects“, and similar expressions including statements related to the current expectations of Company’s management for future research, development and commercialization of the Company’s COVID vaccine, including preclinical research, clinical studies and regulatory approvals.
These statements involve significant risks, uncertainties and assumptions; including, the ability of the Company to: adequately fund, and secure the requisite regulatory approvals to successfully complete clinical studies for a COVID-19 vaccine in a timely fashion and implement its development plans. Other risks include: the ability of the Company to successfully commercialize its drug formulations, the risk that access to sufficient capital to fund the Company’s operations may not be available or may not be available on terms that are commercially favorable to the Company, the risk that the Company’s drug formulations may not be effective against the diseases tested in its clinical studies, the risk that the Company’s fails to comply with the term of license agreements with third parties and as a result loses the right to use key intellectual property in its business, the Company’s ability to protect its intellectual property, the timing and success of submission, acceptance and approval of regulatory filings, and the impacts of public health crises, such as COVID-19. Many of these factors that will determine actual results are beyond the Company’s ability to control or predict.
Readers should not unduly rely on these forward- looking statements which are not a guarantee of future performance. There can be no assurance that forward looking statements will prove to be accurate as such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results or future events to differ materially from 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.
All forward-looking statements are made as of the date hereof and are subject to change. Except as required by law, the Company assumes no obligation to update such statements.
For More Information:
1.866.THE.LASE (843-5273)
416.699.LASE (5273)
www.theralase.com
Kristina Hachey, CPA
Chief Financial Officer
khachey@theralase.com
416.699.LASE (5273) x 224