TORONTO, ON / ACCESSWIRE / July 16, 2019 / 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 is pleased to announce that the Russian Patent Office has issued a Notice of Acceptance for a Multiwavelength Photo Dynamic Therapy ("PDT") patent application.
The patent application entitled, "Apparatus and Method for Multiwavelength Photo Dynamic Therapy" will issue into a patent later this year and provides additional international patent protection for the Company in the application of Theralase's PDT technology for cancer.
Russia represents an immense market opportunity for the Company as the country relies heavily on imported medical devices and is one of the largest markets for medical devices1. Russia has established a National Health Project to provide enhanced methods for early disease detection and monitoring; with a primary focus on cancer. Russia's anticipated total healthcare investments in 2024 will be approximately $160 billion1, opening up new international opportunities for Theralase and its expanding platform of medical laser and oncology-related technologies.
PDT has been proven by the Company to be safe and effective in a Phase Ib Clinical Study for Non-Muscle Invasive Bladder Cancer ("NMIBC") by destroying cancer through the generation of cytotoxic singlet oxygen. In the Multiwavelength PDT patent application, Theralase is optimizing the destruction of cancer cells by increasing the killing zone in tissue beyond the limitation of visible light. This is best accomplished by increasing the number of laser light sources that are used to activate the PDCs combining both visible and invisible wavelengths, thus allowing activation at various tissue depths.
This latest Notice of Acceptance once issued into a patent advances the clinical utility of PDT by expanding the volume of tissue able to be treated. Delivering light to deeper tissues (i.e. large bulky tumors) allows the Company Intellectual Property ("IP") protection for an effective way to kill cancer cells, as various laser light sources activate PDCs at various depths in target tissue and ultimately increase the overall destruction of cancerous tissue.
The multiwavelength laser system opens up new possibilities with far-reaching oncological treatment implications, including: targeting cancers that are difficult, if not impossible to reach with surgery, such as Glio Blastoma Multiforme ("GBM"), a deadly form of brain cancer, Non-Small Cell Lung Cancer ("NSCLC") or other deep tissue-related cancers, such as soft tissue sarcomas.
Kipton P. Lade B.Sc., M.Sc., MBA, CEO - Device Division, Theralase stated, "The Company continues to advance it's Anti-Cancer Therapy ("ACT") platform and expand its IP portfolio through it's Medical Laser Technology ("MLT") division. The multiwavelength laser system allows the activation of PDCs at various tissue depths simultaneously or sequentially effectively destroying cancerous cells throughout bulky tumours, providing enhanced safety and efficacy profiles, as compared to single-wavelength systems. With the Notice of Acceptance from the Russian Patent Office, we are pleased to build our IP protection strategy and have Russia incorporated into our patent jurisdiction. Our long-term strategy is to commercialize the ACT technology commencing with NMIBC and then expanding into GBM, NSCLC, esophageal cancer, and other various cancer indications to provide a safe and effective alternative treatment option for patients inflicted with this deadly disease. The ability to provide personalized ACT treatment for cancer patients to destroy their cancer and prevent its recurrence, all in a single or dual treatment, remains at the forefront of our minds".
1Russia - Medical Equipment. (2018). Retrieved from http://apps.export.gov/article?id=Russia-Medical-Equipment
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.
This news release contains 'forward-looking statements' which reflect the current expectations of management of the Company's 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.
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