Theralase® Technologies Inc. (“
Theralase®” or the
“
Company”) (
TSXV: TLT)
(
OTCQB: TLTFF), a clinical stage pharmaceutical
company dedicated to the research and development of light
activated Photo Dynamic Compounds (“
PDC”) and
associated drug formulations, announced today the following
leadership reorganization:
Effective November 15, 2021, Dr. Arkady Mandel,
M.D., Ph.D., D.Sc., who is currently the Chief Scientific Officer
(“CSO”) of the Company, will assume the role of
Interim Chief Executive Officer (“CEO”), replacing
Mr. John Trikola in the role of Interim CEO of the Company.
Mr. Trikola has agreed to resign from his
positions as the Chief Operating Officer and Interim CEO of the
Company effective immediately, as a result of certain facts that
have come to the Company’s attention concerning Mr. Trikola’s
background that the Company’s vetting process failed to detect. The
Company is currently taking steps to improve its vetting process
for incoming officers and directors.
Effective October 25, 2021, Dr. Vera Madzarevic,
Ph.D. will assume the role of Director of Clinical Development and
Quality Assurance reporting to Dr. Mandel.
Dr. Madzarevic holds a Ph.D. in both clinical
pharmacology and biochemistry and brings over 25 years of global
experience in clinical research and quality assurance in the
biopharmaceutical and medical device industry to Theralase®.
For the last 20 years, Dr. Madzarevic has been
the Global Director, Clinical Research Services and Medical Affairs
for Global Research Pharma Canada, a contract Clinical Research
Organization (“CRO”), where she was involved in
all phases of clinical development (Phase I to IV), training,
product development, strategic planning and for implementing,
monitoring and managing clinical and scientific activities for
clients worldwide.
Prior to this appointment, she was employed as a
senior clinical research scientist for Novartis Pharmaceuticals
based in New Jersey, USA.
Dr. Madzarevic, appointed Director of Clinical
Development and Quality Assurance at Theralase® stated, “It is a
pleasure to join the Theralase® clinical research team, reporting
to Dr. Mandel. I feel my extensive global experience in clinical
research and quality assurance will support the Company’s primary
objective of successfully developing with the objective of
commercializing its Anti-Cancer Therapy (“ACT”)
technology.”
Dr. Mandel, CSO and Interim CEO of Theralase®
stated, “I am honored to return as the Interim CEO for the Company,
as the Company realigns its executive management team to focus on
the Company’s primary objective of commercialization of its ACT
technology, which, if successful, will ultimately deliver
shareholder value.”
Mr. Matthew Perraton, Chairman of the Board of
Directors of Theralase® stated, “On behalf of the Board of
Directors, we believe that Dr. Madzarevic will be a great addition
to the Company in the role of Director of Clinical Development and
Quality Assurance and we welcome her to the clinical team. This
reorganization in leadership allows Dr. Mandel to assume the role
of Interim CEO and devote attention to the successful
commercialization of our ACT technology for Non-Muscle Invasive
Bladder Cancer (“NMIBC”), as well as other
oncological conditions, such as Glio Blastoma Multiforme
(“GBM”) and Non-Small Cell Lung Cancer
(“NSCLC”).”
About
Theralase® Technologies
Inc.Theralase® is a clinical stage pharmaceutical
company dedicated to the research and development of innovative
Anti-Cancer Therapy (“ACT”) technologies intended
to safely and effectively destroy various cancers, bacteria and
viruses, while preserving patient Quality of Life
(“QOL”).
Additional information is available at
www.theralase.com and www.sedar.com
Forward Looking
Statement:This news release contains
"forward-looking statements" which reflect the current expectations
of the Company's management for future growth, results of
operations, performance, business prospects and opportunities. Such
statements include, but are not limited to, statements regarding
the Company's proposed development plans with respect to
Anti-Cancer Therapy technologies. Wherever possible, words such as
"may", "would",
"could", "should",
"will", "anticipate",
"believe", "plan",
"expect", "intend",
"estimate", "potential for" and
similar expressions have been used to identify these
forward-looking statements. These statements reflect management's
beliefs with respect to future events and are based on information
currently available to management. Forward-looking statements
contained herein include statements with respect to, Dr. Madzarevic
and Mr. Mandel in their new roles for the Company and the success
of the Company’s technologies. Forward-looking statements involve
significant risks, uncertainties and assumptions; including, with
respect to the ability of the Company to: adequately fund, secure
the requisite regulatory approvals to commence and successfully
complete a Phase II NMIBC clinical study in a timely fashion and
implement its commercialization plans. Many factors could cause the
Company's actual results, performance or achievements to be
materially different from any future results, performance or
achievements that may be expressed or implied by such
forward-looking statements; including, without limitation, those
listed in the filings made by the Company with the Canadian
securities regulatory authorities (which may be viewed at
www.sedar.com). Should one or more of these risks or uncertainties
materialize or should assumptions underlying the forward-looking
statements prove incorrect, actual results, performance or
achievements may vary materially from those expressed or implied by
the forward-looking statements contained in this news release.
These factors should be considered carefully, and prospective
investors should not place undue reliance on the forward-looking
statements. Although the forward-looking statements contained in
the press release are based upon what management currently believes
to be reasonable assumptions, the Company cannot assure prospective
investors that actual results, performance or achievements will be
consistent with these forward-looking statements. The Company
disclaims any intention or obligation to revise forward-looking
statements whether as a result of new information, future
developments or otherwise except as required by law. All
forward-looking statements are expressly qualified in their
entirety by this cautionary statement.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
For More
Information:1.866.THE.LASE (843.5273)416.699.LASE
(5273)www.theralase.com
Kristina Hachey, CPAChief Financial Officer
khachey@theralase.com416.699.LASE (5273) x 224
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