Theralase Granted Notice of Acceptance for PhotoDynamic Compounds by Chinese Patent Office
TORONTO, ON / ACESSWIRE / May 20, 2019 / Theralase® Technologies Inc. ("Theralase" or the "Company") (TSXV: TLT) (OTCQB: TLTFF), a clinical stage pharmaceutical company dedicated to the research and development of light activated PhotoDynamic Compounds ("PDC") and their associated drug formulations intended to safely and effectively destroy various cancers is pleased to announce that the Company has been granted a Notice of Acceptance by the Chinese patent office for PDCs.
The patent entitled, "Metal-Based Thiophene Photodynamic Compounds and Their Use" advances Theralase's intellectual property portfolio internationally and permits the Company to expand Theralase's advanced PhotoDynamic Therapy ("PDT") technology in the Chinese market, subject to Chinese regulatory approvals. The patent encompasses an extensive library of PDCs, including Theralase's lead PDC, TLD-1433, recently Health Canada Clinical Trial Authorization ("CTA") and Investigational Testing Authorization ("ITA") approved to be evaluated in a pivotal Phase II Non-Muscle Invasive Bladder Cancer ("NMIBC") clinical study.
China is the most populated country in the world, with an estimated population of 1.4 billion [1].
Annual revenue of the oncology drug market in China was approximately $USD 20 billion in 2017 and is expected to grow to $USD 38 billion by 2022 and $USD 95 billion by 2030 [2].
The incidence and mortality rates of bladder cancer continue to increase annually in China, predominantly in urban areas, with approximately 74% of bladder cancer diagnoses in China classified as NMIBC [3].
Dr. Shawn Shirazi, CEO-Drug Division, Theralase stated, "I am delighted that Theralase continues to expand its international intellectual property portfolio, providing additional barriers to entry for the Company's Anti-Cancer Therapy ("ACT") platform, both in medical device technology and in PDCs. This notice of acceptance represents the advancement of a strategic objective of the Company; namely, providing layers of protection of the intellectual property rights of the Company's ACT in major medical markets. China is one of those major medical markets. Pending successful achievement of efficacy and safety endpoints in the Phase II ACT-NMIBC study and required regulatory approval, China, among other major medical markets; including: Canada, the United States and the European Union, are getting in line for use of this advanced PDT technology in the treatment of patients diagnosed with Bacillus Calmette Guérin ("BCG")-Unresponsive NMIBC. Theralase is committed to developing innovative ACT technology and introducing them as quickly and humanely as possible to the expanding global oncology market."
[1] U.S. Census Bureau Current Population [Internet]. Census.gov. 2019 [cited 16 May 2019]. Available from: https://www.census.gov/popclock/print.php?component=counter
[2] Research and Markets. China Monoclonal Antibody (PD-1,CD20,HER2,VEGF,EGFR,TNF-a) Market, 2018-2025: Characteristics and Significance of Drugs Procurement with Target Quantity [Internet]. GlobeNewswire. 2019 [cited 16 May 2019]. Available from: https://www.globenewswire.com/news-release/2019/01/15/1691560/0/en/China-Monoclonal-Antibody-PD-1-CD20-HER2-VEGF-EGFR-TNF-a-Market-2018-2025-Characteristics-and-Significance-of-Drugs-Procurement-with-Target-Quantity.html
[3] Cheng Pang, Youyan Guan, Hongbo Li, Wanqing Chen, Gang Zhu, Urologic cancer in China, Japanese Journal of Clinical Oncology, Volume 46, Issue 6, June 2016, Pages 497-501, https://doi.org/10.1093/jjco/hyw034
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.
Additional information is available at www.theralase.com and www.sedar.com
For More Information:
1.866.THE.LASE (843-5273) x 304
416.699.LASE (5273) x 304
Amelia Tudo, Investor Relations Coordinator
atudo@theralase.com
www.theralase.com
