Toronto, Ontario – January 22, 2021, 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 (“PDC”) and their associated drug formulations used to destroy various cancers, bacteria and viruses safely and effectively is pleased to announce that the Company has expanded its Intellectual Property (“IP”) portfolio. Theralase® has been notified by its legal council that there have been 3 recent decisions to grant a patent: specifically, 1) Russian – Metal-Glycoprotein Complexes 2) Indian – Metal-Glycoprotein Complexes and 3) Chinese – Multiwavelength Photo Dynamic Therapy (“PDT”).
The patent’s entitled, “Metal-Glycoprotein Complexes and Their use as Chemotherapeutic Compounds” are critical in protecting Theralase®’s systemic and targeted anti-cancer therapies to allow PDCs and their associated drug formulations to be systemically injected to hunt and locate into cancer cells for various cancer conditions. Once located in the cancer cells of interest they can be activated by laser light or radiation to destroy the cancer cells safely and effectively.
The patent entitled “Apparatus and Method for Multiwavelength Photo Dynamic Therapy” opens up new oncological applications, including targeting cancers that are difficult, if not impossible to reach with surgery, such as GlioBlastoma Multiforme (“GBM”), a deadly form of brain cancer, Non-Small Cell Lung Cancer (“NSCLC”) or other deep tissue related cancers. The multiwavelength PDT system advances the clinical utility of PDT by expanding the volume of tissue able to be treated. By using various laser light sources to activate the PDCs at various depths in the target tissue simultaneously or sequentially to increase the overall destruction of the cancerous tissue.
Arkady Mandel, M.D., Ph.D., D.Sc., Chief Scientific Officer, Theralase® stated that, “These patents are strategic to opening up new international opportunities for Theralase and its expanding platform of medical laser and oncology related technologies. They validate the proprietary IP position of the Company’s anti-cancer technology for the Russian, Indian and Chinese healthcare markets, demonstrating Theralase’s ongoing commitment to the development of a comprehensive IP portfolio. Our long-term strategy is to commercialize the anti-cancer technology that commenced with NMIBC and then expand into GBM, NSCLC, and other various cancer indications to provide a safe and effective alternative treatment option for patients inflicted with these deadly diseases. The ability to provide personalized treatment for cancer patients to hunt and destroy their cancer and prevent its recurrence, all in a single or dual treatment, remains at the forefront of our minds”.
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, bacteria and viruses.
Forward Looking Statement
This news release contains “forward-looking statements” which reflect the current expectations of management of the Company’s 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.
For More Information:
Kristina Hachey, Chief Financial Officer