Toronto-based Theralase Technologies (
TSX:V.TLT,
Stock Forum) has
agreed a deal with Acadia University to advance its anti-cancer technology platform through an executed research agreement intended to help start toxicity analysis and production ramp-up.
Acadia will supply Theralase’s lead
Photo Dynamic Compounds (PDCs) and the standard operating procedures of how to synthesize them, according to a news release.
The agreement will help Theralase move towards an approved Investigational New Drug (IND) application to the US Food and Drug Administration (FDA) and Health Canada, which is itself a step toward commencing clinical trials.
According to the company, “The lead PDCs have advanced towards international patent protection under a filed Patent Cooperation Treaty (PCT) application. Once approved at this phase, the Company plans to provide wide spread patent coverage of the PDCs across numerous countries during the national phase.”
Dr. David MacKinnon, Dean, Research and Graduate Studies at Acadia University said in a news release, "We are pleased to have partnered with Theralase in the development of these PDCs for the destruction of cancer. It is rewarding to advance research originally developed in our chemistry labs from conception through to commercialization knowing that it may one day be a cure for cancer."
The company hopes to provide “a new platform of cutting-edge anti-cancer technologies to the forefront within the next few years."
Theralase shares are up nearly double from early November of 2013, up 2.6% on today’s news. The company has a market cap of just $25.6 million with 66.5 million shares outstanding.