Theralase Commences Collaborative Research with National Microbiology Laboratory for Development of Coronavirus Vaccine

TORONTO, ON / ACCESSWIRE / April 9, 2021 / Theralase® Technologies Inc. ("Theralase" or the "Company") (TSXV:TLT)(OTCQB:TLTFF), a clinical stage pharmaceutical company focused on the research and development of light activated Photo Dynamic Compounds ("PDC") and their associated drug formulations to safely and effectively destroy various cancers, bacteria and viruses, announced today that it has executed a Collaborative Research Agreement ("CRA") with the National Microbiology Laboratory, Public Health Agency of Canada ("PHAC") for the research and development of a Canadian-based SARS-CoV-2 ("COVID-19") vaccine.

Under the terms of the agreement, Theralase® and PHAC are collaborating on the development and optimization of a COVID-19 vaccine by treating the SARS-CoV-2 virus grown on cell lines with Theralase®'s patented PDC and then light activating it with Theralase®'s proprietary TLC-3000A light technology to inactivate the virus and create the fundamental building blocks of a COVID-19 vaccine. This inactivated virus would then be purified and used to inoculate naive animals followed by challenge with the SARS-CoV-2 virus, to ascertain the efficacy of the vaccine. The project is entitled, "Photo Dynamic Compound Inactivation of SARS-CoV-2Vaccine" and is expected to commence in mid-April 2021.

PHAC is a world leader in vaccine creation and has a long history of vaccine development. PHAC scientists developed the world's first approved Ebola vaccine (Ervebo), which the Government of Canada donated to the World Health Organization ("WHO") during the height of the 2014-16 Ebola outbreak and in the process helped to save countless lives in Africa.

Darwyn Kobasa, Ph.D., Head, High Containment Respiratory Virus Group, Special Pathogens, PHAC/NML, stated "Our research expertise will help assist Theralase® to research and develop an effective COVID-19 vaccine that is robust enough to vaccinate against the main phenotype of the disease and its emerging variants. NML has unique capacity to conduct preclinical research in animal models, that must occur in high containment laboratory space, which is essential to the development of an effective COVID-19 vaccine. I am delighted for having the opportunity of testing the Theralase® anti-viral platform technology at PHAC. The in-vitro data I have reviewed demonstrates that Theralase®'s PDCs have a very high log kill of various Biological Safety Laboratory ("BSL")-2 viruses at nanomolar concentrations. The focus of our CRA is to demonstrate these same results using the SARS-CoV-2 virus, which is a BSL-3 virus. The tested efficacy in BSL-2 virus destruction, reported by Dr. Kevin Coombs of the University of Manitoba, shows that the Theralase® PDC is comparable to, or better than, many other anti-virals that my lab has tested. I look forward to working with Dr. Arkady Mandel and the Theralase® team in the development of this exciting technology."

Dr. Kevin Coombs, Ph.D., Professor, Department of Medical Microbiology at University Manitoba, stated, "I am delighted to see that Theralase®'s and my initial in-vitro research into BSL-2 virus inactivation has successfully advanced to the next stage of evaluation against BSL-3 viruses and if proven successful, on to preclinical vaccine manufacture and vaccination of animals against the SARS-CoV-2 virus in a challenge model at PHAC."

Dr. Arkady Mandel, M.D., Ph.D., D.Sc., Chief Scientific Officer, Theralase® stated, "In line with ongoing global efforts to combat the pandemic, the Company continues to move forward with the development of a safe and effective vaccine to inoculate individuals against COVID-19 and its variants. This new CRA enables Theralase the ability to collaborate with esteemed scientists at PHAC, who have the same mandate of developing new and improved vaccines for COVID-19 and its variants. This research and development will provide new opportunities for the Company; specifically, in the development of new anti-viral vaccination solutions, contributing to our growing platform of PDC-based technology applications. If proven successful, the Theralase® COVID-19 vaccine will support our healthcare professionals in safely and effectively combatting any new viral outbreaks, such as the one recently witnessed, with the global spread of COVID-19".

The Company does not claim or profess that they have the ability to treat, cure or prevent the contraction of the COVID-19 coronavirus.

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, bacteria and viruses.

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

Forward Looking Statement:

This news release contains "forward-looking statements" which reflect the current expectations of Company's management for future growth, results of operations, performance, 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 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 preclinical and clinical studies for a COVID-19 vaccine in a timely fashion and implement its commercialization 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 Exchange) accepts responsibility for the adequacy or accuracy of this release.

For More Information:

1.866.THE.LASE (843-5273)
416-699-LASE (5273)
www.theralase.com

Kristina Hachey
Chief Financial Officer
khachey@theralase.com
416-699-LASE (5273) x 224

SOURCE: Theralase Technologies Inc.