TORONTO, ON / ACCESSWIRE / January 27, 2020 / Theralase® Technologies Inc. ("Theralase" or the "Company") (TSXV:TLT)(OTCQB:TLTFF), a clinical stage pharmaceutical company dedicated to the research and development of light activated Photo Dynamic Compounds ("PDC") and their associated drug formulations intended to safely and effectively destroy various cancers, is pleased to announce that the Company has been granted a U.S. Patent for Multiwavelength PhotoDynamic Therapy ("PDT") technology.
The U.S. patent entitled "Apparatus and Method for Multiwavelength Photodynamic Therapy" allows Theralase to use various laser wavelengths in the activation of PhotoDynamic Compounds ("PDC") in cancerous tumours. The advantage is that a large or deep seated tumour may be only partially destroyed with laser of a particular wavelength, but then fully destroyed by employing one or two additional laser wavelengths, as different laser wavelengths are able to penetrate to different tissue depths. This would be especially important for cancers, such as Glio Blastoma Multiforme ("GBM") or Non-Small Cell Lung Cancer ("NSCLC").
Dr. Arkady Mandel M.D., Ph.D., D.Sc, Chief Scientific Officer of Theralase stated, "Theralase specializes in the development of safe, effective and targeted cancer therapy. This U.S. patent increases Company value by protecting optimized PDT technology which would be effective in large or difficult to reach tumours that are not accessible by certain laser wavelengths. Theralase continues to develop a comprehensive intellectual property portfolio, which strengthens Theralase's position in the global oncology market."
The global market for oncology therapeutic medicines will reach as high as $200 billion by 2022, with the U.S. market reaching as high as $100 billion by 2022, averaging 12-15% growth1.
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.
Additional information is available at www.theralase.com and www.sedar.com
1 Coherent Market Insights. https://www.marketwatch.com/press-release/global-oncology-drugs-market-to-surpass-us-1962-billion-by-2026-2019-01-30
This news release contains "forward-looking statements" which reflect the current expectations of the Company's management of future growth, results of operations, performance and 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 current 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 development 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 Exchanges) accepts responsibility for the adequacy or accuracy of this release.
For More Information:
1.866.THE.LASE (843-5273)
416.699.LASE (5273)
Shushu Feng, Investor Relations & Public Relations Coordinator
sfeng@theralase.com
Amelia Tudo, Investor Relations & Public Relations Coordinator
atudo@theralase.com
www.theralase.com
SOURCE: Theralase Technologies Inc.
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