CORRECTION FROM SOURCE: Theralase to Present Groundbreaking Research at ASTRO 2025

Radiation-Activated Rutherrin(R) Versus Radiation Alone in Preclinical Cancer Models to be Presented at ASTRO 2025

This Press Release removes references to preclinical data that has not yet been presented.

Toronto, Ontario--(Newsfile Corp. - May 29, 2025) - Theralase® Technologies Inc. (TSXV: TLT) (OTCQB: TLTFF) ("Theralase®" or the "Company"), a clinical stage pharmaceutical company pioneering light, radiation, sound and drug-activated therapeutics for the treatment of cancer, bacteria and viruses will present promising new preclinical results at the 2025 American Society for Radiation Oncology ("ASTRO") 67^th Annual Meeting. The Company's latest research evaluates radiation-activated Rutherrin® versus radiation alone in the destruction of cancer cells in a number of preclinical cancer models.

This data will be showcased at the 2025 ASTRO 67^th Annual Meeting, the world's largest gathering of radiation oncology professionals, taking place in late September in San Francisco, California. ASTRO has selected the Theralase® abstract titled, "Rutherrin® Activated by Radiation Therapy Evaluated for Synergistic Tumor Regression through Direct Destruction and Immune Activation in Multiple Preclinical Cancer Models", for presentation in a scientific poster session.

The study explores the potent anti-cancer effects of Rutherrin®—a ruthenium-based small molecule drug formulated with recombinant human transferrin for intravenous administration. Once activated by ionizing radiation through a process known as Radio Dynamic Therapy ("RDT"), Rutherrin® initiates a two-phase cancer-killing response: the generation of Reactive Oxygen Species ("ROS") for immediate cytotoxicity, followed by Immunogenic Cell Death ("ICD") to stimulate a durable immune response.

The Preclinical Data Presented Will Evaluate:

• Selective Tumor Targeting: Rutherrin®'s accumulation in tumor tissues versus healthy cells.
• Blood-Brain Barrier Penetration: Concentrations in Glio Blastoma Multiforme ("GBM") tumors versus healthy brain tissue.
• Synergistic Mechanism: Combination of direct tumor cell destruction with immune activation.
• Survival Rates: Survival benefits compared to radiation therapy alone.
• Resistance: Inhibition of mechanisms associated with multidrug and radiation resistance.
• Adaptive Immune Activation: Induction of long-term immunity, based on resistance to tumor rechallenge.

Mark Roufaiel, Ph.D., research scientist at Theralase® commented, "Results are expected to be highly encouraging. Rutherrin® is hypothesized to enhance the effectiveness of radiation therapy, but also activate a sustained immune response, offering a powerful, dual-action strategy against aggressive and treatment-resistant cancers."

Arkady Mandel, M.D., Ph.D., D.Sc., Chief Scientific Officer of Theralase®, added, "Our focus is to bring this innovative platform to clinical application. Rutherrin® may represent a major advancement in oncologic treatment, potentially enabling radiation oncologists to dramatically improve patient outcomes. This research may provide a strong foundation for integrating Rutherrin® with existing cancer therapies to deliver more effective, long-lasting solutions."

Roger DuMoulin-White, B.Sc., P.Eng., Pro.Dir., President and Chief Executive Officer of Theralase®, stated, "Based on the release of this compelling data in the fall, we are fully committed to completing GLP toxicology studies in 2025. This critical milestone will support the launch of clinical studies in early 2026 targeting GBM, lung, pancreatic, lymphoma and colorectal cancers. We're excited to continue advancing Rutherrin® toward commercialization and transforming cancer care."

About Rutherrin®

Rutherrin® is a patented formulation of Theralase®'s lead ruthenium-based small molecule (Ruvidar®) combined with recombinant human transferrin making it suitable for intravenous delivery. It has the ability to selectively accumulate in cancer cells versus healthy cells and when radiation-activated provide a one-two punch to cancer, by first destroying the cancer cell through oxidative stress and then activating the immune system for destruction of residual cancer cells. Rutherrin® is slated to enter clinical studies in early 2026 for the destruction of deadly cancers; including: brain, lung, pancreatic, colorectal and lymphoma.

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 molecules and their associated formulations, with a primary objective of efficacy and a secondary objective of safety in the destruction of various cancers, bacteria and viruses, with minimal impact on surrounding healthy tissue.

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

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 the 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; the risk that access to sufficient capital to fund the Company's operations may not be available on terms that are commercially favorable to the Company or at all; the risk that the Company's small molecule and drug formulations may not be effective against the diseases tested in its clinical studies; the risk that 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, 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.

Although the FLS 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 FLS.

All FLS are made as of the date hereof and are subject to change. Except as required by law, the Company assumes no obligation to update such FLS.

For investor information on the Company, please feel to reach out Investor Inquiries - Theralase Technologies.

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