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09:41 AM EST, 02/07/2022 (MT Newswires) -- Theralase Technologies (TLT.V), a clinical-stage pharmaceutical company, said on Monday it has demonstrated proof of concept for the development of a Canadian-made COVID-19 vaccine, pushing its shares up more than 8% to a new 52-week high. The company said Public Health Agency of Canada has demonstrated that light-activated TLD-1433, its patented and proprietary Photo Dynamic Compounds, was effective in rapidly inactivating the SARS-CoV-2 virus by up to 99.99%, compared to control in an in vitro study. Further research is required to confirm these findings, the company said. Theralase said these results have laid the groundwork for the next phase of the Collaborative Research Agreement that it had signed in April 2021 with the health agency's National Microbiology Laboratory. Darwyn Kobasa, the agency's head of the high containment respiratory virus group in the special pathogens program, said initial results indicate that, when activated by light, TLD-1433 is "very effective" in inactivating the COVID-19 virus at low concentrations. Arkady Mandel, interim CEO and Chief Scientific Officer at Theralase, said the research also demonstrates that the Theralase platform is "extremely versatile", with an ability to be applicable to a wide range of enveloped viruses. "This would allow the company to tailor the vaccine to be potentially effective against contracting various viruses (existing and/or new) and their associated variants. Based on this encouraging data, the company intends to move forward in the research, development and commercialization of the Theralase COVID-19 vaccine, subject to the required regulatory approval," Mandel said. Price: 0.43, Change: +0.035, Percent Change: +8.86 |