Photo Dynamic Therapy (PDT) is surging in popularity in the fight against cancer predominantly because the method is able to target a specific cancer or cancerous region of the body, without affecting healthy tissue, making companies like Theralase® Technologies (TSXV:TLT) (Theralase®) market darlings in this rapidly growing market.
On a global scale, the PDT market was estimated to be valued at $US 4.5 billion in 2022 and is projected to reach $8.9 billion by 2031, representing a compound annual growth rate (CAGR) of 7.9 per cent over nine years.
Contributing to the market’s growth is an increase in clinical studies that demonstrate PDT’s safety and above all effectiveness in treating medical conditions, such as cancer. PDT is minimally invasive; therefore, reduces the pain and complications associated with more invasive therapies, such as surgery, radiation and chemotherapy.
To solidify its lead role in the PDT space, Theralase® has recently announced that it has been granted a Canadian patent for a new cancer vaccine that is able to program the patient’s immune system to destroy their cancer.
Theralase® granted Canadian vaccine patent
In its latest news release, Theralase® revealed that the patent will protect the company’s PDC technology in treating patients with a cancer vaccine.
The methodology is quite simple and elegant, a sample of the patient’s cancer is obtained, whether solid or blood-based)and subsequently treated with Theralase®’s PDC that is then activated with either light or X-rays. The wholly-inactivated cancer, with antigens intact, is then injected back into the patient intravenously with the antigens now programming the patient’s immune systems to recognize, attack and destroy the designated cancer.
“The possibilities and opportunities of our PDC technology continue to grow at a rapid pace,” Roger DuMoulin-White, President and CEO of Theralase® said in a statement. “The company plans to become properly financed this year through various equity and debt instruments to allow the company the opportunity to commence new clinical studies focused on the destruction of both solid-core and liquid cancers.”
Arkady Mandel, chief scientific officer of Theralase® and the patent’s inventor, explained, “The patent represents an opportunity to treat patients with blood-related cancers that can be difficult, if not impossible, to treat.”
“While the company has been historically focused on treating solid-core tumours such as bladder, brain and lung cancers,” Mandel stated. “This patent opens the opportunity for Theralase® to treat liquid cancers.”
Liquid cancer treatment market growth
Generally known as blood-based cancers, liquid cancers are most formally known as leukemia, myeloma and lymphoma and start in the bone marrow, where blood is produced.
Broadly speaking, the global blood cancer drug market is expected to reach a valuation of $108 billion by 2031, with the increasing prevalence of blood cancer driving that growth.
Internationally, approximately 474,519 new cases of leukemia were reported in 2020, with the global leukemia treatment market expected to reach $27.78 billion by 2027.
Among the several types of leukemia, some occur most often in children, while others most often in adults. Acute myeloid leukemia, chronic myelogenous leukemia and chronic lymphocytic leukemia most often occur in adults, while acute lymphocytic leukemia occurs in all age groups.
The myeloma treatment market is expected to reach $USD 31 billion by 2026 growing at a CAGR of 6 per cent.
Multiple myeloma is a rare form of cancer and is one of the types of blood cancer that accounts for a large prevalence of cancer cases, worldwide. As a result, this is leading to a higher number of diagnoses in patients; thus, gaining the attention of major market pharmaceutical players.
When it comes to the lymphoma market, its treatment size is expected to reach $13.1 billion by 2026. Lymphoma is one of the most common forms of blood cancer, which means its market potential is significant.
As such, new drug candidates are being evaluated in clinical studies to treat several forms of lymphoma.
Theralase® future outlook
Theralase® notched a U.S. patent in October 2022, protecting the same technology as its newly acquired patent in Canada, while a European Union patent is currently pending.
In its pipeline, the company is conducting a late-stage Phase II registration clinical study for bladder cancer, expected to be completed by 2026. Theralase® expects to launch a Phase Ib clinical study for brain cancer and lung cancer in 2024, pending the completion of a GLP toxicology analysis.
Theralase® investment corner
Thanks to its robust pipeline, Theralase® has the potential to address a much-needed market with its next standard of care treatments for solid tumours, as well as blood-based cancers.
As the company moves forward with clinical studies into 2024 and beyond, investors will no doubt be keenly watching how the company disrupts the pharmaceutical market.
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