Theralase Achieves Commercialization Milestone For Its Bladder Cancer Therapy

PRLog (Press Release) - Mar. 14, 2013 - TORONTO, Canada -- Toronto, ON -- March 14, 2013 -- Theralase Technologies Inc. (TSXV: TLT) announced that its proprietary Photo Dynamic Compound (PDC) technology has been approved for use in a live animal bladder cancer model by the University Health Network (UHN) Research Ethics Board. This approval expedites the Company’s progress towards commercializing its advanced bladder cancer therapy.

Theralase’s leading proprietary oncology PDC has repeatedly demonstrated that it is:

•   toxic to bladder cancer cells when light activated (100% kill rate)
•   exceeds potency of FDA approved PDCs    
•   highly stable ensuring optimal tumour destruction

Theralase will validate its PDC technology in this animal cancer model to support an Investigational New Drug (IND) application to be filed with the FDA later this year. This IND application will allow Theralase to commence a Phase 1/2a human clinical trial to prove the safety and efficacy of its PDC technology on a 30 subject population with scheduled completion in 2014. Based on recent pharmaceutical acquisitions for oncology drugs and market statistics, the estimated value of the PDC upon successful completion of a FDA Phase 1/2a clinical trial ranges from $84 million to $360 million in upfront payments followed by a double digit revenue royalty stream. (Source: BIO statistics)