Toronto, Ontario (FSCwire) - Theralase Technologies Inc. (“Theralase” or the “Company”) (TLT:TSXV) (TLTFF:OTC), a leading biotech company focused on commercialization of medical devices to eliminate pain and development of Photo Dynamic Compounds (“PDCs”) to destroy cancer, announced today that it has extended its Sponsored Research Agreement (“SRA”) with University Health Network (“UHN”), one of the top 5 cancer research institutes in the world.

Under the terms of the SRA, Theralase and UHN will work together to evaluate Theralase’s patented and patent pending platform of novel Ruthenium (“Ru”) and Osmium (“Os”) based PDCs for new cancer indications, including: lung, melanoma and brain cancer.

In addition, UHN will supply on-going scientific support to Theralase for Theralase’s submissions to the Food and Drug Administration (“FDA”) for approval of an Investigational New Drug (“IND”) application and will provide Theralase with scientific support for Health Canada and the FDA in approval of a Phase IIb clinical trial for Non-Muscle Invasive Bladder Cancer (“NMIBC”).

Theralase has developed and continues to develop patented and patent pending PDCs, required for Photo Dynamic Therapy (“PDT”), which can be activated in the light spectrum from ultraviolet to near infrared light and hence the treatment depth can be preselected through the appropriate choice of wavelength. The efficacy of these PDCs will be tested in in vitro (Petri dish) and in vivo (animal) models, including an orthotopic animal model with associated pharmacodynamics (Mechanism of Action), pharmacokinetics (where PDC accumulates in body and how it exits the body) and in-vivo toxicity analyses for: lung, melanoma and brain cancer, to select the lead drug candidate and PDT treatment conditions for subsequent Phase Ib human clinical trials. The research will include determination of the light dosimetry and light feedback system that will allow real time monitoring of the safe and effective destruction of these cancers.

The goal is to match the PDC with the optimal therapeutic wavelength as a tool to confine PDT treatment to a depth that is equal to the depth of tumour invasion into the tissue structure. While this depth can be localized by proper laser probe placement in relation to the organ of interest during treatment, wavelength is an additional methodology to avoid damage to healthy organ structures. Additionally, the research will explore if these PDCs are capable to initiate an immune response as seen for other cancers leading to a 'vaccination' against tumour recurrence.

Roger Dumoulin-White, President and CEO of Theralase stated, “Theralase continues to have a great working relationship with UHN and its team of clinical and scientific researchers in the development of Theralase’s PDC technology. We look forward to expanding the application of our PDCs to include: lung, melanoma and brain cancers.”

Dr. Lothar Lilge, PhD, Senior Scientist at UHN stated, “Theralase’s vision to expand the application of its PDC technology beyond NMIBC, to other cancer indications such as lung, melanoma and brain cancer is based on prior work completed. The initial findings in in-vitro and in-vivo models using Theralase’s anti-cancer PDC technology are very promising. We were able to demonstrate complete cell death for a wide range of cancer cells at nanomolar concentrations of the PDC, following light activation and without

toxicity in the absence of light. I look forward to working with Theralase and their team to ultimately establish this non-invasive and non-ionizing technology in the clinic for various oncological indications.”

About Theralase Technologies Inc.

Theralase Technologies Inc. (“Theralase®”) (TSXV: TLT) (TLTFF: OTC) in its Therapeutic Laser Technology (“TLT”) Division designs, manufactures and markets patented super-pulsed laser technology indicated for the: elimination of pain, reduction of inflammation and dramatic acceleration of tissue healing for numerous nerve, muscle and joint conditions. Theralase’s Photo Dynamic Therapy (“PDT”) Division researches and develops specially designed molecules called Photo Dynamic Compounds (“PDCs”), which are able to localize to cancer cells and then when laser light activated, effectively destroy them.

Additional information is available at www.theralase.com and www.sedar.com .

This press release contains forward-looking statements, which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The Company disclaims any obligation to update these forward-looking statements.

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:

Roger Dumoulin-White                                                

President & CEO                              

1.866.THE.LASE (843-5273) ext. 225                                         

416.699.LASE (5273) ext. 225                                                      

rwhite@theralase.com                                                                                

www.theralase.com

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