TORONTO, Dec. 09, 2021 (GLOBE NEWSWIRE) -- 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 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 recently been granted an Indian patent for “Metal-Based Coordination Complexes as Photodynamic Compounds and their Use.”
This patent encompasses numerous Theralase® PDCs destined for the Indian market; most importantly, TLD-1433, which is currently under clinical investigation in a Phase II Non-Muscle Invasive Bladder Cancer (“NMIBC”) clinical study, being conducted in Canada and the United States.
The Mechanism of Action (“MOA”) of the patented Theralase® PDCs involves localization of the PDC inside the cancer cells of interest and then activating it by laser light to produce radical singlet oxygen and Reactive Oxygen Species (“ROS”), temporally and spatially to destroy the cancer cells, with minimum impact on healthy cells.
This patent further strengthens the extensive portfolio of patents already held by Theralase®, by differentiating TLD-1433 cancer therapy versus its competitors and providing Theralase® a sustainable first-mover competitive advantage in PDC technology in the oncology market. Theralase® is focused on increasing shareholder value, by providing the Company international patents to protect its unique technology, as the Company moves closer towards commercialization.
Arkady Mandel, M.D., Ph.D., D.Sc., Interim Chief Executive Officer (“CEO”) and Chief Scientific Officer (“CSO”), Theralase®, stated that, “This patent is strategic to opening up new international opportunities for Theralase® by expanding its IP portfolio of medical laser and oncology focused technologies internationally. Theralase®’s long-term strategy is to commercialize the Anti-Cancer Therapy (“ACT”) division technology commencing with NMIBC and expanding into Glio Blastoma Multiforme (“GBM”), Non-Small Cell Lung Cancer (“NSCLC”) and other various cancer indications to provide a safe, effective and rapid 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 and progression, all in a single or dual treatment, remains at the forefront of our research and development objectives.”
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.
Additional information is available at www.theralase.com and www.sedar.com
Forward Looking Statement:
This news release contains "forward-looking statements" which reflect the current expectations of the Company's management for future growth, results of operations, performance, 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 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 commercialization 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 Exchange) accepts responsibility for the adequacy or accuracy of this release.
For More Information:
1.866.THE.LASE (843.5273)
416.699.LASE (5273)
www.theralase.com
Kristina Hachey
Chief Financial Officer
khachey@theralase.com
416.699.LASE (5273) x 224
