Mr. Roger DuMoulin-White reports

THERALASE DEMONSTRATES 8 YEAR SHELF LIFE OF LEAD DRUG RUVIDAR

Supported by current good manufacturing practice (cGMP) analysis conducted by an independent manufacturing and testing laboratory, Theralase Technologies Inc. has successfully demonstrated an eight-year, real-time shelf life of its lead PDC (photodynamic compound), Ruvidar.

Dr. Arkady Mandel, MD, PhD, DSc, chief scientific officer of Theralase, stated: "Theralase's ability to demonstrate such an extended shelf life of its lead PDC, Ruvidar, is extremely encouraging, as it supports our ongoing clinical development plans. This independent analysis confirms the ability of Ruvidar to be an extremely stable small molecule that has the ability to maintain its potency and purity over eight years without significant degradation. This will allow our clinical partners to procure and store our PDC technology over many years without loss of clinical performance, minimizing the requirement to dispose of/replace unused drug over time."

Roger DuMoulin-White, BSc, PEng, ProDir, president and chief executive officer of Theralase, stated: "Since 2015, Theralase has utilized the services of an external, independent testing laboratory to conduct accelerated aging and real-time stability studies in the storage of Ruvidar, with the goal of validating product purity and hence efficacy over time. The recent stability report validates the storage of Ruvidar over eight years, providing Theralase additional support that its lead drug can be successfully manufactured and sterilized, then subsequently stored at clinical study sites around the globe for many years. This extended shelf life allows our future commercial partners to be confident in the ability to procure and store our lead drug without risk of degradation of clinical performance over time. This will significantly reduce the cost of replacement of the drug due to spoilage/lack of efficacy. As a result of the latest report, Theralase will continue to leverage our expertise in the research and development of new PDC formulations, such as Rutherrin, to allow our anti-cancer technology to be available for additional cancer indications."

About Theralase Technologies Inc.

Theralase is a clinical-stage pharmaceutical company dedicated to the research and development of light-activated and radiation-activated 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.

We seek Safe Harbor.