TORONTO, ON / ACESSWIRE / May 20, 2019 / 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 PhotoDynamic 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 Notice of Acceptance by the Chinese patent office for PDCs.
The patent entitled, "Metal-Based Thiophene Photodynamic Compounds and Their Use" advances Theralase's intellectual property portfolio internationally and permits the Company to expand Theralase's advanced PhotoDynamic Therapy ("PDT") technology in the Chinese market, subject to Chinese regulatory approvals. The patent encompasses an extensive library of PDCs, including Theralase's lead PDC, TLD-1433, recently Health Canada Clinical Trial Authorization ("CTA") and Investigational Testing Authorization ("ITA") approved to be evaluated in a pivotal Phase II Non-Muscle Invasive Bladder Cancer ("NMIBC") clinical study.
China is the most populated country in the world, with an estimated population of 1.4 billion 1.
Annual revenue of the oncology drug market in China was approximately $USD 20 billion in 2017 and is expected to grow to $USD 38 billion by 2022 and $USD 95 billion by 2030 2.
The incidence and mortality rates of bladder cancer continue to increase annually in China, predominantly in urban areas, with approximately 74% of bladder cancer diagnoses in China classified as NMIBC 3.
Dr. Shawn Shirazi, CEO-Drug Division, Theralase stated, "I am delighted that Theralase continues to expand its international intellectual property portfolio, providing additional barriers to entry for the Company's Anti-Cancer Therapy ("ACT") platform, both in medical device technology and in PDCs. This notice of acceptance represents the advancement of a strategic objective of the Company; namely, providing layers of protection of the intellectual property rights of the Company's ACT in major medical markets. China is one of those major medical markets. Pending successful achievement of efficacy and safety endpoints in the Phase II ACT-NMIBC study and required regulatory approval, China, among other major medical markets; including: Canada, the United States and the European Union, are getting in line for use of this advanced PDT technology in the treatment of patients diagnosed with Bacillus Calmette Guérin ("BCG")-Unresponsive NMIBC. Theralase is committed to developing innovative ACT technology and introducing them as quickly and humanely as possible to the expanding global oncology market."
1 U.S. Census Bureau Current Population [Internet]. Census.gov. 2019 [cited 16 May 2019]. Available from: https://www.census.gov/popclock/print.php?component=counter
2 Research and Markets. China Monoclonal Antibody (PD-1,CD20,HER2,VEGF,EGFR,TNF-a) Market, 2018-2025: Characteristics and Significance of Drugs Procurement with Target Quantity [Internet]. GlobeNewswire. 2019 [cited 16 May 2019]. Available from: https://www.globenewswire.com/news-release/2019/01/15/1691560/0/en/China-Monoclonal-Antibody-PD-1-CD20-HER2-VEGF-EGFR-TNF-a-Market-2018-2025-Characteristics-and-Significance-of-Drugs-Procurement-with-Target-Quantity.html
3 Cheng Pang, Youyan Guan, Hongbo Li, Wanqing Chen, Gang Zhu, Urologic cancer in China, Japanese Journal of Clinical Oncology, Volume 46, Issue 6, June 2016, Pages 497-501, https://doi.org/10.1093/jjco/hyw034
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
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) x 304
416.699.LASE (5273) x 304
Amelia Tudo, Investor Relations Coordinator
[email protected]
www.theralase.com
SOURCE: Theralase Technologies Inc.