TORONTO, Feb. 07, 2022 (GLOBE NEWSWIRE) -- 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 Compounds¹ ("PDC") and their associated drug formulations intended for the safe and effective destruction of various cancers, bacteria and viruses, has demonstrated proof-of-concept for the development of a Canadian-made SARS-CoV-2 ("COVID-19") vaccine.

In August 2020, Theralase® reported that it had executed a Sponsored Research Agreement ("SRA") with the University of Manitoba ("UM") medical microbiology department to commence research and development of a Canadian-made vaccine, utilizing Theralase®'s patented and proprietary PDC, TLD-1433.

In November 2020, Theralase® reported that, UM was able to demonstrate that TLD-1433 was effective in the rapid destruction of various viruses, including: H1N1 Influenza, Zika and a Biological Safety Level ("BSL")-2 coronavirus at low nanomolar ("nM") concentrations.

All these enveloped viruses are similar in structure to SARS-CoV-2 virus (BSL-3), which is responsible for COVID-19. These initial results strongly suggested that Theralase®'s PDC technology may be used to develop an inactivated virus vaccine² that may be effective against COVID-19 and hence warranted further preclinical evaluation.

Further research by UM also identified that the spike protein responsible for the transmission of a coronavirus into a host cell, remained intact after light-activated TLD-1433 inactivation, suggesting that the vaccine developed by this technology could potentially stimulate a protective antibody immune response in a mammalian host.

In April 2021, Theralase® reported that it had executed a Collaborative Research Agreement ("CRA") with the Public Health Agency of Canada's ("PHAC") National Microbiology Laboratory to further expand upon the research and development achieved at UM, by researching and developing a Canadian-based COVID-19 vaccine.

Under the terms of the agreement, Theralase® and PHAC are collaborating on the research, development and optimization of a COVID-19 vaccine by inactivating the SARS-CoV-2 virus with Theralase®'s light-activated PDC, TLD-1433.

Theralase® is pleased to be able to report today that PHAC has demonstrated that light-activated TLD-1433, was effective in rapidly inactivating the SARS-CoV-2 virus by up to 99.99%, compared to control in an in vitro study. Further research is required to confirm these findings.

These results have now laid the groundwork for the next phase of the CRA, which is evaluating the Theralase® COVID-19 vaccine in the ability to prevent animals from contracting COVID-19, when exposed to the virus.

Darwyn Kobasa, Ph.D., Head, High Containment Respiratory Virus Group, Special Pathogens, PHAC, stated, "My team's initial results indicate that, when activated by light, TLD-1433 is very effective in inactivating the COVID-19 virus at low concentrations, thus demonstrating proof-of-concept in the development of a Canadian-made COVID-19 vaccine."

Kevin Coombs, Ph.D., Professor, Department of Medical Microbiology at UM, stated, "The work conducted at my lab and the work conducted by PHAC's National Microbiology Laboratory, has demonstrated that a large range of enveloped viruses can be successfully inactivated by light-activated TLD-1433 at low concentrations. I am delighted that Theralase®'s and my initial preclinical research has proven to be effective in COVID-19."

Dr. Arkady Mandel, M.D., Ph.D., D.Sc., Interim Chief Executive Officer and Chief Scientific Officer, Theralase® stated, "The latest preliminary results by Dr. Kobasa and Dr. Coombs, demonstrate that the Theralase® vaccine may potentially be effective as a Canadian-made wholly-inactivated vaccine to prevent individuals from contracting COVID-19 in the future and warrant further research to confirm the findings. The research also demonstrates that the Theralase® platform is extremely versatile, with an ability to be applicable to a wide range of enveloped viruses. This would allow the Company to tailor the vaccine to be potentially effective against contracting various viruses (existing and/or new) and their associated variants. Based on this encouraging data, the Company intends to move forward in the research, development and commercialization of the Theralase® COVID-19 vaccine, subject to the required regulatory approval."

About TLD-1433

TLD-1433 is a patented PDC with over 10 years of published peer reviewed preclinical research and is currently under investigation in a Phase II Non-Muscle Invasive Bladder Cancer ("NMIBC") clinical study for Bacillus Calmette-Guérin ("BCG")-Unresponsive patients at 5 Canadian Clinical Study Sites ("CSS") and 7 US-based CSS.

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, bacteria and viruses.

Additional information is available at and

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 and a COVID-19 vaccine. Forward-looking statements may be identified by the use of the words "may", "should", "will", "anticipates", "believes", "plans", "expects", and similar expressions including statements related to the current expectations of Company's management for future research, development and commercialization of the Company's COVID vaccine, including 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 successfully complete clinical studies for a COVID-19 vaccine in a timely fashion and implement its development plans. Other risks include: the ability of the Company to successfully commercialize its drug formulations, the risk that 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 risk that the Company's drug formulations may not be effective against the diseases tested in its clinical studies, the risk that the Company fails to comply with the terms 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, and the impacts of public health crises, such as COVID-19. 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)

Kristina Hachey, CPA
Chief Financial Officer
khachey@theralase.com
416.699.LASE (5273) x 224