TORONTO, ON / ACCESSWIRE / February 20, 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 associated drug formulations, is pleased to announce today that Theralase has been named a 2020 TSX Venture 50™ company.
Presented by the TSX Venture Exchange, Theralase is ranked number eight in the Clean Technology & Life Sciences sector. This award recognizes the top 10 performing companies from five industry sectors selected based on three equally weighted criteria: market capitalization growth, share price appreciation and trading volume amount. Theralase was previously named a TSX Venture 50™ company in 2015 & 2019 making this the third year Theralase has been recognized as a top performer in the Clean Technology & Life Sciences sector.
On February 21, 2020, Theralase will be ringing the market opening bell with all the other TSX Venture 50™ companies at the Toronto Stock Exchange.
Shawn Shirazi, Ph.D., CEO of Theralase stated that "It is an honour to be recognized as an elite company on the TSX Venture for the third year. This achievement is a strong demonstration of the value that the Company has delivered to shareholders the preceding year. In 2019, Theralase reached a new milestone where a single treatment from Phase Ib Non-Muscle Invasive Bladder Cancer ("NMIBC") clinical study has achieved "cancer free" status, a complete response to treatment, at 18 months post treatment at therapeutic dose of TLD-1433 in 67% of patients presenting with Bacillus Calmette Guerin ("BCG")-Unresponsive NMIBC. Additionally, the Pivotal Phase II NMIBC clinical study has been rapidly progressing in Canada with 10 patients treated, to date, surpassing the expected enrollment timeline. We will continue to go above and beyond, reaching new milestones this year."
About Study II
The Phase II NMIBC Clinical Study utilizes the Therapeutic Dose (0.70 mg/cm2) of TLD-1433, focusing on the treatment of approximately 100 BCG-Unresponsive NMIBC patients presenting with CIS in approximately 20 clinical study sites located in Canada and the US. Study II will have a primary endpoint of efficacy (measured by CR) at any point in time, a secondary endpoint of duration of CR at approximately 360 days post-initial treatment and a tertiary endpoint of safety measured by incidence and severity of adverse events grade 4 or higher that do not resolve within 360 days post-initial treatment. To date, 3 clinical study sites are active for enrollment and 10 patients have been treated in the Pivotal Phase II NMIBC Clinical Study.
In 2020, an estimated 81,400 adults (62,100 men and 19,300 women) will be newly diagnosed with bladder cancer in the United States. Among men, bladder cancer is the fourth most common cancer. It is estimated that 17,980 deaths (13,050 men and 4,930 women) from this disease will occur in 2020.1 The bladder cancer market is expected to triple in size to around $1.1 billion by 2025.2
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.
1 Key Statistics for Bladder Cancer. https://www.cancer.org/cancer/bladder-cancer/about/key-statistics.html. Accessed January 29, 2020.
2 Bladder cancer market size to more than triple to over $1.1 billion by 2025. (2017). Retrieved 14 August 2019, from https://www.globaldata.com/bladder-cancer-market-size-triple-1-1-billion-2025/
Forward Looking Statement:
This news release contains "forward-looking statements" which reflect the current expectations of the 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 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 Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE: Theralase Technologies Inc.