Toronto, Ontario – March 29, 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 safely and effectively destroy various cancers, bacteria and viruses announced today the launch of the Theralase® Anti-Cancer Therapy (“ACT”) research centre located within the Li Ka Shing Knowledge Institute of St. Michael’s Hospital, Unity Health Toronto, effective April 1, 2022, relocating its research team from University Health Network (“UHN”), Toronto.
The Li Ka Shing Knowledge Institute of St. Michael’s is home to leading researchers, educators and clinicians — dedicated professionals making new scientific discoveries, generating novel therapies, developing innovative training programs and helping translate knowledge into practice.
The ACT research centre is a fully equipped laboratory dedicated exclusively to Theralase® ACT research and development as it advances towards commercialization with its lead PDC, TLD-1433, as well as its systemic and targeted formulation – Rutherrin®. A Partnership with the Li Ka Shing Knowledge Institute of Unity Health provides access to additional expertise, advisory networks and opportunities to accelerate product development and commercialization.
Dr. Ori Rotstein MD, Msc., Vice President of Research and Innovation at Unity Health, Professor and Associate Chair of the Department of Surgery at University of Toronto welcomed Theralase® stating, “Our research facilities uniquely align scientific, clinical and business initiatives, which helps to accelerate our partners’ path to market by validating their solutions directly in the healthcare setting starting at the research bench and culminating to clinical studies.”
Michael Jewett MD, FRCSC, FACS, CM, Departments of Surgery (Urology), University of Toronto and Chair, Theralase Medical and Scientific Advisory Board, stated “I am delighted by the research and clinical milestones that the Theralase® team has been able to achieve in advancing its PDC technology, including, launching a Phase II Non-Muscle Invasive Bladder Cancer (“NMIBC”) pivotal clinical study in Canada and the US. In 2021, Theralase® plans to complete the non-Good Laboratory Practice (“GLP”) and GLP toxicology of Rutherrin® (TLD-1433 combined with transferrin) to be used as a radiosensitizer in the treatment of multiple solid tumor types: including Glio-Blastoma Muliforme (“GBM”) and Non-Small Cell Lung Cancer (“NSCLC”) among others. As Theralase® advances in its research with Rutherrin® it makes sense for the Company to launch its own independent research centre focused on this evolving technology.”
Lothar Lilge Ph.D., Senior Scientist Princess Margaret Cancer Centre, UHN, stated “I am pleased that Theralase® has graduated to its own independent research center. I will continue to support the Company in the research of light activated PDC therapy and Monte Carlo simulation.”
Arkady Mandel, M.D., Ph.D., D.Sc., Chief Scientific Officer, Theralase® stated that, “Launching the Theralase® ACT Research Centre at Unity Health aids in the translation of our cutting-edge scientific and pre-clinical research. Given the outstanding range of bactericidal, viral and cancer cell kill rates the Company has achieved to date, it has become clear there are opportunities abounding to expand our scientific horizons through collaborative arrangements in many diverse and exciting new clinical applications. The current pandemic of COVID-19 occurring world-wide reminds us how vulnerable we are to new infectious diseases and why new advanced and innovative technologies that combat such infectious agents are seriously needed. The Theralase® TLD-1433 and Rutherrin® technologies and patented medical laser systems are just such an innovation in the battle against cancer and infections, which claim countless lives every day world-wide. The Company now has an exceptional platform to continue an expanded laboratory research program as it actively advances the pivotal Phase II NMIBC clinical study to enroll and treat patients inflicted with Bacillus Calmette Guerin (“BCG“)-Unresponsive Carcinoma In-Situ (“CIS“) or who are intolerant to BCG Therapy (“Study II“) and prepares for Good Laboratory Practices (“GLP”) toxicology testing of Rutherrin ® in 4Q21.”
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