Mr. Matthew Perraton reports

THERALASE(R) ANNOUNCES APPOINTMENT OF NEW INDEPENDENT DIRECTOR

Theralase Technologies Inc. has appointed a new independent director, Dr. Kaouthar Lbiati, MD, MSc.

Dr. Lbiati received her doctor of medicine from Rabat, Morocco's Mohammed V University, and a postdoctorate in clinical oncology from Gustave Roussy Institute in Paris, which is a premier European cancer center and one of the five most prominent cancer centres in the world. She holds a specialized executive master's degree in strategy and management from ESSEC Business School in Paris, a master's degree in international policy and health economics from the London School of Economics, a corporate governance certification from Columbia Business School, and finance certification from Harvard Business School.

Dr. Lbiati is an internationally trained medical doctor, who utilizes her extensive clinical and business background to assist biopharmaceutical organizations to achieve their strategic objectives through systematic achievement of their value inflection milestones, partnering of their promising drug candidates with large international pharmaceutical companies and ultimately increasing shareholder value.

Since 2022, Dr. Lbiati has been on the board of directors of Hepion Pharmaceuticals, a United States public biotech where she currently chairs the strategic planning committee and is member of the audit, science, nomination and governance committees.

Prior to serving on the board of Hepion, Dr. Lbiati has been employed in executive and non-executive roles for Cytovia Therapeutics, Steba Biotech and Immune Pharmaceuticals. She has been instrumental in helping these organizations better define their corporate and business strategy, prioritize their pipeline, optimize technology platforms, and effectively communicate their value proposition to international investors and partners, in order to secure financing, strategic partnerships and business development arrangements.

Previous to these roles, Dr. Lbiati served, for over a decade, in global and regional leadership roles at Amgen, Sanofi, GlaxoSmithKline and AstraZeneca, in the United States, Europe, United Kingdom, Middle East and North Africa, with a focus on medical affairs, strategic planning, market access, health economics and outcomes research, across various stages of the drug development life cycle.

Dr. Lbiati stated that: "I am very excited to finally get involved with the Canadian biotech ecosystem and I look forward to assisting Theralase achieve its strategic objectives of commercialization through partnering of its lead pharmaceutical drug with large pharmaceutical organizations in North America and internationally. Theralase is at an inflection point in its drug development pipeline and I believe this highly promising Canadian-born anti-cancer therapy (ACT) is on the verge of demonstrating to the world the safety and efficacy that this platform truly bring to patients inflicted with cancer; firstly for patients diagnosed with Bacillus Calmette-Guerin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC), who are running out of therapeutic options and are facing bladder removal surgery."

Matthew Perraton, PFP, FMA, FCSI, chairman of the board of Theralase, stated: "We are thrilled to welcome an individual of this calibre to our board. Dr. Lbiati possesses a wealth of international experience across all aspects of drug development, from clinical research to medical affairs, marketing to commercialization of various drug candidates. Her expertise comes at an opportune time, as we have made great strides in our phase II BCG-Unresponsive NMIBC clinical study, whose strong interim clinical data verifies that light-activated Ruvidar is a potent photo dynamic compound (PDC) that is capable of destroying high-grade bladder cancer and providing a durable response to this disease, while providing a very high safety profile for the treated patient. Based on this latest interim clinical data, the company is commencing to actively explore international partnering, licensing and distribution opportunities for our cancer targeting PDC, Ruvidar."

About Theralase Technologies Inc.

Theralase is a clinical-stage pharmaceutical company dedicated to the research and development of light activated compounds and their associated drug formulations with a primary objective of efficacy and a secondary objective of safety in the destruction of various cancers, bacteria and viruses.

We seek Safe Harbor.