TORONTO, ON / ACCESSWIRE / April 5, 2024 / Theralase® Technologies Inc. ("Theralase®" or the "Company") (TSXV:TLT)(OTCQB:TLTFF), a clinical stage pharmaceutical company dedicated to the research and development of light and/or radiation activated Photo Dynamic Compounds ("PDCs") for the safe and effective destruction of various cancers, bacteria and viruses, has been granted a Canadian patent for a new cancer vaccine.

The recently issued patent is titled, "Vaccine Containing Cancer Cells Inactivated by Photodynamic Treatment with Metal-Based Coordination Complexes and Immunotherapy Method Using Same".

A US patent protecting the same technology was previously issued in October 2022. A European Union patent is currently pending.

The patent protects Theralase® PDC technology in the treatment of a patient with a cancer vaccine; specifically, programmed to destroy their cancer.

This is fundamentally accomplished by obtaining a sample of their cancer and treating it extracorporeally with a Theralase® PDC and then activating the PDC with either light or radiation. This inactivated cancer is then injected back into the patient intravenously, programming the patient's immune system to recognize, attack and destroy the particular cancer of interest.

Theralase®'s pipeline includes: a Phase II registration clinical study for bladder cancer expected to be completed in 2026, plans to launch a Phase Ib clinical study for both brain cancer and lung cancer in 2024, pending completion of a toxicology analysis, and now after the issuance of a Canadian and US patent on a cancer vaccine, the ability to treat various "liquid cancers"; such as leukemia, lymphoma and myeloma.

Dr. Arkady Mandel, MD, PhD, DSc, Chief Scientific Officer of Theralase®, inventor of the patent stated, "The issuance of an additional patent for our cancer vaccine technology represents a significant opportunity for patients diagnosed with blood-related cancers, which are difficult, if not impossible, to treat. Our primary focus has been on the research and development of technology to destroy solid-core tumours, such as bladder, brain and lung cancers; however, this new patent allows the Company the opportunity to explore the treatment of various liquid cancers."

Roger DuMoulin-White, President and Chief Executive Officer of Theralase® stated, "The possibilities and opportunities of our PDC technology continue to grow at a rapid pace. The Company plans to become properly financed this year through various equity and debt instruments to allow the Company the opportunity to commence new clinical studies focused on the destruction of both solid-core and liquid cancers. I am excited about the opportunities available to the Company, as a result of these new patents, as it significantly increases the opportunity for our PDC technology to treat patients inflicted with a wide range of cancers."

About Leukemia:

Leukemia is a cancer that starts in the stem cells of blood. As the stem cells of the blood develop, they become blast cells (blasts), which are immature blood cells. In leukemia, there is an overproduction of blast cells. These blast cells develop abnormally and don't develop into mature blood cells. Over time, the blast cells crowd out normal blood cells so that they can't do their jobs.

Leukemia is the 11^th most common cancer in the United States. As of 2019, more than 470,000 Americans have a history of leukemia. It was estimated that about 60,000 people would be diagnosed with leukemia in 2022. The five-year relative survival rate of leukemia is 65.7%.

About Lymphoma:

Lymphoma is a type of cancer that occurs due to the malignant transformation of the lymphocytes (infection fighting cells of the immune system). The most common category of lymphoma, Non-Hodgkin Lymphoma ("NHL") is the 7^th most common cancer in the United States. In 2024, the American Cancer Society's estimates 80,620 people (44,590 males and 36,030 females) will be diagnosed with NHL. The five-year relative survival rate of lymphoma is 72%.

About Myeloma:

Myeloma, also known as multiple myeloma, is a type of blood cancer that develops from plasma cells in the bone marrow. Myeloma is the 14^th most common type of cancer. In 2023, an estimated 35,730 adults in the United States will be diagnosed with multiple myeloma. The overall 5-year survival rate for people with multiple myeloma in the United States is 55%.

About Ruvidar^TM:

Ruvidar^TM is a peer-reviewed, patented PDC currently under investigation in a Phase II registration clinical study for bladder cancer.

About Theralase® Technologies Inc.:

Theralase® is a clinical stage pharmaceutical company dedicated to the research and development of light activated compounds, their associated drug formulations and the light systems that activate them, with a primary objective of efficacy and a secondary objective of safety in the destruction of various cancers, bacteria and viruses.

Additional information is available at www.theralase.com and www.sedarplus.ca

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.

Forward Looking Statements:

This news release contains "forward-looking statements" within the meaning of applicable Canadian securities laws. 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. Forward looking statements may be identified by the use of the words "may, "should", "will", "anticipates", "believes", "plans", "expects", "estimate", "potential for" and similar expressions; including, statements related to the current expectations of Company's management for future research, development and commercialization of the Company's Photo Dynamic Compounds and their drug formulations, preclinical research, clinical studies and regulatory approvals.

These statements involve significant risks, uncertainties and assumptions; including, the ability of the Company to: adequately fund and secure the requisite regulatory approvals to commercially market a treatment for various cancers in a timely fashion and implement its commercialization strategy. Other risks include: the ability of the Company to successfully complete its clinical study program, access to sufficient capital to fund the Company's operations may not be available or may not be available on terms that are commercially favorable to the Company, the Company's drug formulations may not be effective against the diseases tested in its clinical studies, the Company's fails to comply with the term of license agreements with third parties and as a result loses the right to use key intellectual property in its business, the Company's ability to protect its intellectual property, the timing and success of submission, acceptance and approval of regulatory filings. Many of these factors that will determine actual results are beyond the Company's ability to control or predict.

Readers should not unduly rely on these forward-looking statements, which are not a guarantee of future performance. There can be no assurance that forward looking statements will prove to be accurate as such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results or future events to differ materially from 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.

All forward-looking statements are made as of the date hereof and are subject to change. Except as required by law, the Company assumes no obligation to update such statements.

For More Information:

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

Kristina Hachey, CPA
Chief Financial Officer
khachey@theralase.com

SOURCE: Theralase Technologies Inc.