Theralase Technologies Inc (CVE:TLT, OTCMKTS:TLTFF) announced a milestone Monday as it revealed plans to expand its photodynamic therapy (PDT) technology into China after receiving the green light by regulators there.
The biotech firm has been granted a 'Notice of Acceptance' by the Chinese patent office for its PDCs (PhotoDynamic Compounds). These compounds are being developed to combat cancer along with bacterial infection control.
The Chinese patent encompasses an extensive library of PDCs, including Theralase’s lead candidate PDC, TLD-1433, which was recently Health Canada Clinical Trial Authorization (CTA) and Investigational Testing Authorization (ITA) approved to be evaluated in a pivotal Phase II non-muscle invasive bladder cancer (NMIBC) clinical study.
Annual revenue within the cancer drug market in China was around US$20 billion in 2017 and is expected to grow to US$38 billion by 2022 and US$95 billion by 2030.
"I am delighted that Theralase continues to expand its international intellectual property portfolio, providing additional barriers to entry for the company’s anti-cancer therapy (“ACT”) platform, both in medical device technology and in PDCs," said Dr Shawn Shirazi, the group's CEO of the drug division.
"This notice of acceptance represents the advancement of a strategic objective of the company; namely, providing layers of protection of the intellectual property rights of the company’s ACT in major medical markets.
"China is one of those major medical markets. Pending successful achievement of efficacy and safety endpoints in the Phase II ACT-NMIBC study and required regulatory approval, China, among other major medical markets; including: Canada, the United States and the European Union, are getting in line for use of this advanced PDT technology in the treatment of patients diagnosed with Bacillus Calmette Guérin (BCG)-Unresponsive NMIBC.
"Theralase is committed to developing innovative ACT technology and introducing them as quickly and humanely as possible to the expanding global oncology market.”
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