TORONTO, ON / ACCESSWIRE / June 4, 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 small molecules for the safe and effective destruction of various cancers, bacteria and viruses, is pleased to announce that it's lead compound, Ruvidar^TM, has been proven effective in the inactivation of various viruses.

The research was completed at the laboratory of Kevin Coombs, Ph.D., University of Manitoba in conjunction with National Microbiology Laboratory and Theralase® Technologies Inc.

The research, which demonstrated that Ruvidar^TM was effective at inactivating both enveloped and non-enveloped viruses, alone and when light activated was recently accepted in a peer-reviewed publication, Heliyon, and can be reviewed at https://doi.org/10.1016/j.heliyon.2024.e32140

Heliyon is an all-science, open access journal that is part of the Cell Press family. Any paper reporting scientifically accurate and valuable research, which adheres to accepted ethical and scientific publishing standards, will be considered for publication.

In addition, when the human coronavirus was treated with Ruvidar^TM, the spike protein remained intact suggesting that inactivation of coronaviruses by Ruvidar^TM may be used as a vaccine.

Kevin Coombs, Ph.D., Professor, Medical Microbiology, University of Manitoba stated, "My team and I were excited by the results we have obtained as we have worked with several anti-viral compounds over the years and have found that Ruvidar^TM is far more potent than any of the others we have worked with, in fact Ruvidar^TM is effective at concentrations approximately 100-fold lower than those we have previously tested. I believe Ruvidar^TM has the potential to be effective as a broad-spectrum viral vaccine able to mitigate the biothreat of various emerging infectious disease pathogens. In our research, we found that nanomolar and micromolar concentrations of Ruvidar^TMwere all that was required in order to inactivate 90 to 99.9% of all seven viruses that we tested, including H1N1 influenza virus, coronavirus, Zika virus, poxvirus and herpes virus. In fact, Ruvidar^TM at 3 mM completely killed the herpes virus."

Arkady Mandel, M.D., Ph.D., D.Sc., Chief Scientific Officer, Theralase® stated, "Theralase® is very excited about the acceptance of our publication to Heliyon. This publication substantiates the years of work that the team has undertaken to demonstrate that Ruvidar^TM is an effective technology to inactivate numerous viruses both with and without the presence of light and can be used as a strong antiviral platform in the production of vaccines in the near future, subject to completion of animal and toxicology testing. As a result, the Theralase® lab in Toronto will focus on using Ruvidar^TM to research and develop a topical therapeutic to mitigate the impact of herpes virus lesions. I look forward to supporting the implementation of this technology at the commercial level."

According to the World Health Organization ("WHO") in 2023, an estimated 3.7 billion people under the age of 50 (67%) globally have Herpes Simplex Virus type 1 ("HSV-1") infection, the main cause of oral herpes, while an estimated 491 million people aged 15 to 49 (13%) worldwide have Herpes Simplex Virus type 2 ("HSV-2") infection, the main cause of genital herpes.

Roger DuMoulin-White, B.Sc., P.Eng., Pro.Dir., President and Chief Executive Officer, Theralase® stated, "The small molecule Ruvidar^TM has been preclinically proven to kill bacteria and various cancer cells and clinically proven to kill bladder cancer cells. It is currently under preclinical evaluation in the destruction of brain cancer, lung cancer and various blood-based cancers, such as: leukemia, lymphoma and multiple myeloma. Based on the latest research detailing Ruvidar^TM's success in the destruction of various viruses, the Company has gained consensus from the National Microbiology Laboratory to direct its research away from the Covid-19 virus vaccine to develop this technology for an avian influenza vaccine."

In September 2023, a new Centers for Disease Control and Prevention ("CDC") study showed the number of reported avian influenza "bird flu" outbreaks in animals and infections in people are increasing worldwide. During 2013 to 2022, bird flu outbreaks in animals and infections in people not only increased in numbers, but also were detected over a growing geographic area as well as among a growing number of different animal categories. While the recent detections of H5N1 bird flu in the U.S., poultry and wild birds are thought to pose a low risk to the health of the general public at this time; however, human infections are possible. As of August 2023, more than 58.7 million poultry and more than 7,100 wild birds have been affected in the United States.

About Theralase® Technologies Inc.:

Theralase® is a clinical stage pharmaceutical company dedicated to the research and development of light and/or radiation activated small molecule 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.sedar.com

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 fund and secure the regulatory approvals to successfully complete a Phase II NMIBC clinical study 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 on terms that are commercially favorable to the Company or may not be available at all, 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'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 investor information on the Company, please feel to reach out Investor Inquiries - Theralase Technologies.

For More Information:

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

Kristina Hachey, CPA
Chief Financial Officer
X 224
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