Theralase Technologies Inc. announced that it has successfully completed its non-Good Laboratory Practices ("GLP") preclinical toxicology analysis of Rutherrin®? for Glio Blastoma Multiforme ("GBM"). GBM is the most aggressive and most common type of brain cancer.

The preclinical toxicology data collected to date has demonstrated that Theralase®?'s Rutherrin®? (RuvidarTM + human transferrin) PDC is able to be safely administered Intra Venously ("IV") into brain cancer animal models and then successfully hunt, target and significantly accumulate inside GBM cells versus healthy brain cells. When the PDC is activated by radiation therapy, such as X-ray radiation, it effectively destroys GBM tumour cells.

In addition, to providing a strong cancer killing effect the technology is able to induce Immunogenic Cell Death ("ICD") and certain anti-tumour protective responses, preventing further growth of the GBM tumour cells. Based on the successful completion of the GLP toxicology program, Theralase®? intends to commence a Phase Ia/Ib dose escalating clinical study in 2024 in patients diagnosed with GBM to determine the appropriate clinical dose of the drug from both a toxicity and tumour localization perspective.

This phase will also look at radiation activation of a single IV dose of Rutherrin®?. Following the successful completion of the Phase Ia/Ib clinical study, Theralase®? plans to commence a Phase IIa/IIb clinical study in Canada and the United States focused on enrolling and treating patients diagnosed with recurrent GBM, with multiple radiation activated doses of Rutherrin®?".