Toronto, Ontario – August 16, 2012,
Theralase Technologies Inc. (TSX-V: TLT) announced today that it is
reorganizing its operations into two separate reportable operating divisions to
better service and focus the company’s resources for both independent markets.
The Therapeutic Laser Technology (TLT) division will be responsible for all
aspects of the Company’s burgeoning therapeutic laser business, which
manufactures products used by healthcare practitioners predominantly for the
healing of pain and the Photo Dynamic Therapy (PDT) division, which researches
and develops Photo Dynamic Compounds (PDCs) for the destruction of primarily cancer.
Roger Dumoulin-White, President
& CEO of Theralase Technologies stated that “It has become evident through
the recent successes of both technology platforms that these two operating divisions
have unique requirements in terms of financing, staffing, logistics and
resource allocation. Our intent is to manage and focus the direction of each division
to better execute on their respective strategic objectives. Our therapeutic
laser products have been recognized by independent health care practitioners worldwide
as “best-in-class” in terms of safety, efficacy and overall clinical performance.
In terms of market size, it has been reported by the American Pain Association
that health care expenses, lost work time and reduced productivity due to pain,
costs the US medical system approximately $100 billion annually. In order to help
alleviate their pain, Americans consume annually in excess of $20 billion of pain
medications and according to a recent study 42% felt that pain medications were
ineffective in relieving their pain, allowing a minimum $8.4 billion annual market
opportunity for Theralase. Our corporate mandate is to capture less than 1% of
this underserved market achieving annual revenues of $50 million in a recurring
revenue model within the next 5 years. Theralase intends to capitalize on this
market through the direct sales, marketing and international distribution of
our growing platform of laser technologies; including our flagship TLC-1000
product and soon to be released TLC-2000 product”.
Mr. Dumoulin-White added, “In
the current decade, oncology has been one of the most important growth segments
among the biotechnology and pharmaceutical markets. The global cancer drug market alone is
expected to surpass $US78 billion in 2012. Theralase has recently made significant
advances in the research and development of its
novel patented Photo Dynamic
Compounds (PDCs) in terms of cancer destruction that are laying the groundwork
for Health Canada and FDA Investigational New Drug (IND) applications, anticipated
to be submitted in 2013. The potential market for our advanced PDT technology
platform for the first targeted clinical indication of bladder cancer in the US
alone is over $3.5 billion annually. Our mandate is to partner the PDC
technology after FDA Phase 2 clinical approval, expected within the next 3 to 5
years and to successfully negotiate a royalty agreement for the worldwide
distribution of this technology, commencing immediately after formal regulatory
Health Canada and FDA approval, expected within the next 5 to 7 years. Due to the lack of clinical research and
advances in the field of bladder cancer treatment over the last 16 years, Theralase
is confident that our advanced PDC approach could quickly gain sizable market
share with the right pharma partner in this underserved market. Our mandate is
to capture 10% of this market with our pharma partner and through royalty
revenue generate recurring revenue in excess of $50 million annually.”Mr.
Dumoulin-White concluded by stating that, “Theralase’s mandate is to build both
the TLT and PDT divisions into separate $50 million annual recurring revenue
models within the next 5 to 7 years.”
About Theralase Technologies Inc.
Theralase Technologies Inc.,
founded in 1995, designs, develops, manufactures and markets patented,
superpulsed laser technology utilized in biostimulation and biodestruction
applications. Theralase technology is safe and effective in treating pain,
inflammation and for tissue regeneration of neural muscular skeletal conditions
and tissue healing in both humans and animals. Theralase also develops patented
Photo Dynamic Compound (PDC) technology focused at targeting and destroying
cancers, bacteria and viruses when light activated by Theralase’s proprietary
and patented laser technologies.
For further information please
visit www.theralase.com
, regulatory filings may be viewed by visiting www.sedar.com.
This press release contains
forward-looking statements which reflect the Company's current expectations
regarding future events. The forward-looking statements involve risks and
uncertainties. Actual results could differ materially from those projected
herein. The Company disclaims any obligation to update these forward-looking
statements.
Neither TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchanges) accepts responsibility for the adequacy or accuracy
of this release.
For More Information
Roger Dumoulin-White
President & CEO,
416-447-8455 ext. 225
Greg Bewsh
Director of Investor
Relations,
416-447-8455 ext. 262
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