Theralase(R) Completes Enrollment In Bladder Cancer Clinical Study

Theralase(R) Completes Enrollment in Bladder Cancer Clinical Study

Toronto, Ontario–(Newsfile Corp. – February 2, 2026) – Theralase® Technologies Inc. (TSXV: TLT) (OTCQB: TLTFF) (“Theralase®” or the “Company“), a clinical stage pharmaceutical company dedicated to the research and development of light, radiation, sound and/or drug-activated small molecules and their formulations, intended for the safe and effective destruction of various cancers, bacteria and viruses, is pleased to announce that it has successfully completed its targeted milestone of enrolling and treating 90 patients in a multi-center Phase II clinical study for bladder cancer.

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The Phase II clinical study has a primary endpoint of efficacy, a secondary endpoint of duration of response and a tertiary endpoint of safety, in evaluating light-activated Ruvidar® in the treatment of patients diagnosed with Bacillus Calmette-Guérin (“BCG“)-Unresponsive Non-Muscle Invasive Bladder Cancer (“NMIBC“) Carcinoma In-Situ (“CIS“), who have failed standard-of-care therapy and are facing radical cystectomy (bladder removal) (“Study II“).

The enrollment and treatment of 90 patients achieves the Company’s statistical analysis plan and represents a significant step forward in evaluating a statistically and clinically significant dataset in support of a Health Canada and FDA regulatory approval. In accordance with the clinical protocol, Theralase® will enroll and treat any additional patients, who are in or pending screening.

Pending Health Canada and FDA regulatory approval, light-activated Ruvidar® represents a potentially transformative, bladder-sparing treatment option for patients with limited alternatives, addressing a significant unmet need in high-risk NMIBC.

Clinical data generated to date continues to demonstrate a strong efficacy, duration of response and favorable safety profile, with a majority of patients achieving durable responses with a single treatment.

Arkady Mandel, MD, PhD, DSc, Chief Scientific Officer of Theralase®, stated, “I am pleased that Theralase® has completed enrollment of 90 patients in its Phase II registrational clinical study for bladder cancer. This accomplishment allows the Company to complete this study in 2026 and prepare for Health Canada and FDA regulatory approval submissions.”

Roger DuMoulin-White, BSc, P.Eng, Pro.Dir, President and Chief Executive Officer of Theralase®, added,
“Enrolling and treating 90 patients in our Phase II registration clinical study represents a significant milestone for the Company. With the targeted enrollment now completed, we can focus on compilation of the clinical data for Health Canada and FDA regulatory approval. 2026 will be a pivotal year for the Company as we complete our bladder cancer study, embark on a combinational clinical study for bladder cancer and launch numerous Phase I/II adaptive clinical studies for brain, lung, muscle invasive bladder, pancreatic and colorectal cancers.”

About Study II:
Study II utilizes the therapeutic dose of the small molecule Ruvidar®, which has been light-activated by the TLC-3200 Medical Laser System. Study II will enroll and treat 90 BCG-Unresponsive NMIBC CIS patients in 12 clinical study sites located in Canada and the United States.

About NMIBC
NMIBC is a form of bladder cancer that is found in the inner layer cells of the bladder and does not invade into or beyond the muscle wall.¹In the United States, bladder cancer is the sixth most common cancer,² fourth among men,³ and it is estimated that there will be approximately 84,870 new cases of bladder cancer in the U.S. in 2025.³ Historically, 75% of bladder cancer presents as NMIBC.⁴In patients with high-risk NMIBC, intravesical BCG remains the first-line standard-of-care; however, approximately one third of patients with NMIBC will not respond to BCG therapy and 50% of those with an initial response will experience recurrence or progression of their disease.⁵ Current treatment options for BCG-unresponsive patients are very limited and National Comprehensive Cancer Network guidelines recommend cystectomy (partial or complete removal of the bladder).⁶

About Ruvidar®:
Ruvidar® is a small molecule activated by light, radiation, sound and/or other drugs, intended for the safe and effective destruction of cancer, bacteria and viruses.

About Theralase® Technologies Inc.:
Theralase® is a clinical stage pharmaceutical company dedicated to the research and development of light, radiation, sound and/or drug-activated small molecule compounds and their formulations with a primary objective of efficacy and a secondary objective of safety in the destruction of cancer, bacteria and viruses, with minimal impact on surrounding healthy tissue.

Additional information is available at www.theralase.com and www.sedarplus.ca

References:

Urology Care Foundation. Non-muscle Invasive Bladder Cancer. https://www.urologyhealth.org/urology-a-z/n/non-muscle-invasive-bladder-cancer. Accessed November 2025.
National Cancer Institute. Cancer Statistics. https://www.cancer.gov/about-cancer/understanding/statistics. Accessed November 2025.
American Cancer Society. Cancer Facts & Figures 2025. https://www.cancer.org/content/dam/cancer-org/research/cancer-facts-and-statistics/annual-cancer-facts-and-figures/2025/2025-cancer-facts-and-figures-acs.pdf. Accessed November 2025.
Babjuk M, Burger M, Capoun O, et al. European Association of Urology Guidelines on Non-muscle-invasive Bladder Cancer. Eur Urol. 2022 Jan;81(1):75-94.
Lidagoster S, et al. BCG and Alternative Therapies to BCG Therapy for Non-Muscle-Invasive Bladder Cancer. Curr Oncol. 2024 Feb 16;31(2):1063-1078.
National Comprehensive Cancer Network. Bladder Cancer (Version 2.2025). https://www.nccn.org/professionals/physician_gls/pdf/bladder.pdf. Accessed November 2025.

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.

Forward-Looking Statements
This news release contains Forward-Looking Statements (“FLS“) within the meaning of applicable Canadian securities laws. Such statements include; but, are not limited to statements regarding the Company’s proposed development plans with respect to small molecules and their drug formulations. FLS may be identified by the use of the words “may, “should“, “will“, “anticipates“, “believes“, “plans“, “expects“, “estimate“, “potential for” and similar expressions; including, statements related to the current expectations of the Company’s management regarding future research, development and commercialization of the Company’s small molecules; their drug formulations; preclinical research; clinical studies and regulatory approvals.

These statements involve significant risks, uncertainties and assumptions; including, the ability of the Company to fund and secure regulatory approvals to successfully complete various clinical studies in a timely fashion and implement its development plans. Other risks include: the ability of the Company to successfully commercialize its small molecule and drug formulations; access to sufficient capital to fund the Company’s operations is available on terms that are commercially favorable to the Company or at all; the Company’s small molecule and formulations may not be effective against the diseases tested in its clinical studies; the Company fails to comply with the terms of license agreements with third parties and as a result loses the right to use key intellectual property in its business; the Company’s ability to protect its intellectual property; the timing and success of submission and acceptance and approval of regulatory filings. Many of these factors that will determine actual results are beyond the Company’s ability to control or predict.

Readers should not unduly rely on these FLS, which are not a guarantee of future performance. There can be no assurance that FLS will prove to be accurate as such FLS involve known and unknown risks, uncertainties and other factors, which may cause actual results or future events to differ materially from the FLS.