Toronto, Ontario / May 15, 2014 / Theralase Technologies Inc. ("Theralase') (TSXV: TLT) (TLTFF: OTCBB) announced today that it has partnered with Princess Margaret Cancer Centre, University Health Network ("UHN") to complete preclinical research on its Photo Dynamic Compound (PDC) technology for the destruction of cancer.
Under the terms of the agreement, Theralase's scientific and engineering teams will work with UHN's scientific and medical cancer specialists to complete preclinical research for the anti-cancer technology in the destruction of cancer and to advance the technology to the clinical stage. Anticipated 2014 milestones include the destruction of bladder cancer in a rat model, verification of the lead PDC for bladder cancer, validation of manufactured PDC quality and toxicology analysis assistance.
Dr. Arkady Mandel, Chief Scientific Officer of Theralase stated, "I am delighted that we have partnered with UHN to complete this pivotal preclinical research. UHN is one of the top five cancer centres in the world and provides excellent clinical and scientific support to our existing teams to complete the preclinical work required to prepare us for a Phase 1/2a human clinical trial for bladder cancer.
Dr. Lothar Lilge, PhD, Senior Research Scientist at UHN stated, "The initial in-vitro and small animal in-vivo work using Theralase's anti-cancer PDC technology has been excellent, demonstrating elimination of a wide range of cancer cells at sub micromolar concentations (nanograms of PDC) when light activated and without toxicity in the absence of light. Eliminating subcutaneous tumours in in vivo small animals with this non-invasive and non-ionizing technology bodes very well for the anticipated clinical destruction of cancer in the future."
Dr. Michael Jewett MD, clinician investigator and uro-oncologist at Princess Margaret/UHN stated, "I am encouraged that Theralase has continued to pursue investigating the possibility of destroying bladder cancer with their anti-cancer PDC technology. Bladder cancer is a devastating disease with over 386,000 new cases annually worldwide and no new drug treatments approved since 1998. If, with the support of UHN, Theralase is able to prove its safety and efficacy in clinical trials, we have a game changer on our hands in the management and treatment of patients with bladder cancer."
Roger Dumoulin-White, President and CEO of Theralase stated that, "I am pleased that Theralase has chosen a strong partner like UHN to help us complete our preclinical research and help us to prepare for human clinical trials. UHN will be strategic for Theralase to help complete our preclinical work by early 2015 and allow us to commence human clinical trials with them and a large US cancer facility soon thereafter."
About Theralase Technologies Inc.
Theralase Technologies Inc. designs, manufactures and markets patented, superpulsed laser technology used in eliminating pain and destroying cancer. Theralase technology is safe and effective in eliminating pain, reducing inflammation and accelerating tissue regeneration of numerous nerve, muscle and joint conditions. Theralase is actively developing patented technology that is able to target and destroy cancers, bacteria and viruses when light activated.
This press release contains forward-looking statements, which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The Company disclaims any obligation to update these forward-looking statements.
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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Theralase Technologies Inc.
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Princess Margaret Hospital, University Health Network
SOURCE: Theralase Technologies Inc.
Release ID: 44656