Theralase Technologies Inc.
TSX VENTURE : TLT

Theralase Technologies Inc.

December 02, 2009 08:00 ET

Theralase Continues To Grow: 3Q2009 Financials

TORONTO, ONTARIO--(Marketwire - Dec. 2, 2009) - Theralase Technologies Inc. (TSX VENTURE:TLT) continues to grow in revenue, posting a 3rd quarter gain, demonstrating year over year growth of 9%.

Roger Dumoulin-White, President & CEO stated that, "Theralase continues to expand in the Canadian and international marketplace and we look forward to expanding into the US market commencing in 1Q2010. The closing of our recent private placement will allow us to fund the commercialization of the TLC-2000 'patented' biofeedback laser for these markets and bring the anticipated U.S. expansion program to fruition on a larger, more aggressive scale,".

Financial highlights of the 3Q2009 financials as compared to 3Q2008 include: increasing revenues 9% to $501,263 from $459,789, increasing international product sales 446% to $193,822 and decreasing net loss 64% from ($240,751) to ($87,164).

Roger Dumoulin-White, President & CEO went on to say, "The international market has been an opportunity that Theralase has been developing for some time. We receive at least two or three phone calls from interested overseas distributers every week. We have been patient in our approach to enter this market in hopes of securing a high-value partnership. I think our patience is paying off."

In addition to sustained revenue growth, further progress has been made in the commercialization of the TLC-2000 "patented" biofeedback laser. The final prototype is currently under completion, while clinical trials at the University of Buffalo are being used to demonstrate its efficacy in the treatment of myofacial pain. If proven successful, Theralase will pursue a new Current Procedural Terminology (CPT) code to provide an insurance reimbursable treatment for patients in the U.S. "Obtaining a new CPT code will solidify our position in the US market , as one of the biggest challenges in selling therapeutic lasers to U.S. practitioners has been a consistent national reimbursement policy.", stated Dumoulin-White.

In the quest to cure cancer, Theralase has demonstrated the ability to destroy cancer cells utilizing the TLC-3000 proprietary laser and patented PDC compounds in in-vitro pre-clinical studies at the Ontario Cancer Institute located at the world renowned Princess Margaret Hospital. The pre-clinical studies have demonstrated the ability to kill cancerous tumour cells, while proving to be very safe in application. 

"I am excited about the possibilities and opportunities that these PDCs present in the destruction of cancer cells. An oxygen independent reaction is unique for this type of cancer therapy, where low oxygen conditions pose a major problem. The ability to completely destroy cancer cells in the absence of oxygen presents the unique opportunity of treating solid tumours of the breast, prostate, lung and brain, to name a few." stated Lothar Lilge Ph.D, lead researcher on the project.

The complete consolidated financial statements and MD&A for three months ended September 30, 2009 can be found at www.theralase.com and www.sedar.com.

Theralase Technologies Inc. designs, develops and manufactures patented, super-pulsed laser technology used in bio-stimulation and bio-destruction applications. The technology is popularized for its efficacious treatment of chronic pain, inflammation, wound care and the ability to attack specifically targeted cancer, bacteria, and viruses, when used in conjunction with the Company's patented photodynamic compounds.

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this release.

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