Toronto, Ontario – September 29, 2023, Theralase® Technologies Inc. (“Theralase®” or the “Company”) (TSXV: TLT) (OTCQB: TLTFF) is a clinical stage pharmaceutical company that is dedicated to the research and development of light and radiation activated Photo Dynamic Compounds (“PDCs”), their associated drug formulations and the light systems that activate them. These PDCs are intended to safely and effectively destroy various cancers, bacteria and viruses, when light or radiation activated.
Supported by current Good Manufacturing Practice (“cGMP”) analysis conducted by an independent manufacturing and testing laboratory, Theralase® announced that it has successfully demonstrated an 8 year, real-time, shelf life of its lead PDC, RuvidarTM.
Dr. Arkady Mandel, MD, PhD, DSc, Chief Scientific Officer of Theralase® stated, “Theralase®’s ability to demonstrate such an extended shelf life of its lead PDC, RuvidarTM is extremely encouraging, as it supports our ongoing clinical development plans. This independent analysis confirms the ability of RuvidarTM to be an extremely stable small molecule that has the ability to maintain its potency and purity over 8 years without significant degradation. This will allow our clinical partners to procure and store our PDC technology over many years without loss of clinical performance, minimizing the requirement to dispose of / replace unused drug over time.”
Mr. Roger DuMoulin-White, BSc, P.Eng, Pro.Dir, President and Chief Executive Officer of Theralase® stated, “Since 2015, Theralase® has utilized the services of an external, independent testing laboratory to conduct accelerated aging and real time stability studies in the storage of RuvidarTM, with the goal of validating product purity and hence efficacy over time. The recent stability report validates the storage of RuvidarTM over 8 years, providing Theralase® additional support that it’s lead drug can be successfully manufactured and sterilized, then subsequently stored at clinical study sites around the globe for many years. This extended shelf life allows our future commercial partners to be confident in the ability to procure and store our lead drug without risk of degradation of clinical performance over time. This will significantly reduce the cost of replacement of the drug due to spoilage / lack of efficacy. As a result of the latest report, Theralase® will continue to leverage our expertise in the research and development of new PDC formulations, such as Rutherrin®, to allow our anti-cancer technology to be available for additional cancer indications.”
About Theralase® Technologies Inc.:
Theralase® is a clinical stage pharmaceutical company dedicated to the research and development of light and radiation activated compounds, their associated drug formulations and the light systems that activate them, with a primary objective of efficacy and a secondary objective of safety in the destruction of various cancers, bacteria and viruses.
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:
Kristina Hachey, CPA
Chief Financial Officer
416.699.LASE (5273) x 224