Theralase Achieves 98% Destruction of Bladder Cancer

TORONTO, ON  July 22, 2015 / Theralase Technologies Inc. ("Theralase" or the "Company") (TSX VENTURE: TLT) (TLTFF), a leading biotechnology manufacturer focused on commercializing medical technologies to eliminate pain and destroy cancer, announced today that it has achieved near complete destruction (~98%) of bladder cancer in an animal model.

The Company previously announced on December 9th and 23rd, 2014, respectively, of its success in destroying bladder cancer cells both in a Petri dish and in a preliminary orthotopic rat model in research performed at the University of Toledo.

Theralase, in order to optimize the model, relocated it to Princess Margaret Cancer Center, University Health Network ("UHN") under the direction of Dr. Lothar Lilge, Senior Scientist, UHN and Dr. Arkady Mandel, Chief Scientific Officer ("CSO") of the Company. Optimization of both the formulation and purity of the lead drug, TLD-1433, by Sigma Aldridge Fine Chemicals ("SAFC") and the wavelength of laser light used to activate the drug by Theralase resulted in achieving the highest cell kill to date.

Bladder cancer is the 5th most prevalent cancer in the world (4th in men, 8th in women) resulting in 430,000 new cases worldwide and an estimated 91,000 deaths annually. There has been no new treatment developed for this disease in the last 16 years. The cost to treat a patient with this disease ranges from $USD 100,000 to 200,000. The disease has an 80% recurrence rate. 70% of new bladder cancer cases are early stage disease affecting the inner lining of the bladder (urothelium) and are known as Non-Muscle Invasive Bladder Cancer ("NMIBC"). According to the latest clinical research, 25% of these patients will have a recurrence of the disease within 6 months and a total of 50% recur within 2 years. The standard of care currently is to surgically resect the bladder tumour followed by installation of a bacteria, known as Bacillus-Calmette Guérin ("BCG") into the bladder for high risk patients. The next course of action for these patients, where the standard of care was not effective, is to either repeat the same treatment (surgery and BCG therapy) or to surgically remove the bladder in its entirety with any associated lymph nodes and nearby organs.