CEO.CA Chairman's Briefing

TORONTO, ON / ACCESSWIRE / November 13, 2020 / 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 Compounds ("PDC") and their associated drug formulations used to safely and effectively destroy various cancers, bacteria and viruses announced today that its PDC technology has demonstrated a high kill rate in a preclinical analysis of coronavirus, Biological Safety Level ("BSL-2").

Theralase previously reported that the Company's PDC technology was effective in the destruction of Influenza H1N1 and Zika viruses at low nanomolar concentrations. These studies were expanded to include coronavirus (BSL-2). As a note, COVID-19 is caused by coronavirus (BSL-3), not coronavirus (BSL-2). An assay was established to measure coronavirus destruction and using this new assay the Theralase® PDC technology was able to destroy coronavirus (BSL-2) with drug doses 5 times lower than what was used to kill Influenza H1N1 and Zika viruses. These drug doses demonstrated a 99.995% destruction rate of the BSL-2 coronavirus and are significantly lower than those used by the Company to treat cancers; hence safe for human use. All coronaviruses are considered similar in their structure and these new results strongly suggest that Theralase®'s PDC will be highly effective against the SARS-CoV-2 (coronavirus (BSL-3)) virus responsible for COVID-19.

Dr. Kevin Coombs, Ph.D., Professor, Department of Medical Microbiology, who is the principal investigator for the Theralase® PDC destruction of coronavirus (BSL-2) stated "The Theralase® compound is extremely effective in the destruction of this virus. I strongly believe that it will be equally effective against the SARS-CoV-2 (coronavirus (BSL-3)), responsible for the current COVID-19 pandemic. This lays the ground work for an effective COVID-19 vaccine using Theralase®'s patented PDC technology. Further studies are underway to determine the Mechanism Of Action ("MOA"). I look forward to continue working with Dr. Arkady Mandel and the Theralase team in the development of this exciting technology".

Dr. Arkady Mandel, M.D. Ph.D., DSc Chief Scientific Officer, Theralase Technologies Inc. stated, "We are excited that the two stages of our research, and development of a COVID-19 vaccine have been successful; specifically: the destruction of lipid enveloped Influenza H1N1 and Zika viruses followed by the destruction of the coronavirus (BSL-2) virus with Theralase®'s patented PDC. We look forward to expanding this research and development to SARS-CoV-2 (coronavirus (BSL-3)), responsible for the current COVID-19 pandemic, in the development of a safe and effective vaccine in the not too distant future."

In August 2020, Theralase® executed a Sponsored Research Agreement ("SRA") with the University of Manitoba ("UM") Medical Microbiology department to commence development of a coronavirus vaccine utilizing Theralase's patented and proprietary PDCs specifically TLD-1433. Currently the UM research is completing the preclinical (in-vitro) stage. Theralase® plans to commence an in-vivo small animal study later this year at another facility equipped to handle SARS-CoV-2 viruses and if successful commence human clinical studies in 2021, subject to suitable financing.

The Company does not claim or profess that they have the ability to treat, cure or prevent the contraction of the COVID-19 Coronavirus.

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 4 Canadian clinical study sites.

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, bacterias and viruses.

Additional information is available at www.theralase.com and www.sedar.com

Forward Looking Statement:

This news release contains "forward-looking statements" which reflect the current expectations of the Company's management for future growth, results of operations, performance, 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 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 commercialization 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 Exchange) accepts responsibility for the adequacy or accuracy of this release.

For More Information:

1.866.THE.LASE (843-5273)
416-699-LASE (5273)
www.theralase.com
Kristina Hachey
Chief Financial Officer
khachey@theralase.com
416-699-LASE (5273) x 224

SOURCE: Theralase Technologies Inc.