The virus pandemic is far from over, but companies are rallying to the cause of a cure, or at least, a treatment. In the case of at least one firm, investors are rewarding the efforts in the fight.
Toronto-based Theralase Technologies Inc. (TSX-Venture:TLT) is a clinical stage pharmaceutical company focused on the research and development of light activated Photo Dynamic Compounds and their associated drug formulations to safely and effectively destroy various cancers.
Theralase’s big news Wednesday is that it has executed a Sponsored Research Agreement ("SRA") with the University of Manitoba ("UM") Medical Microbiology department to commence development of a coronavirus vaccine and therapy utilizing Theralase's patented and proprietary PDCs.
According to the SRA, UM will conduct experiments in conjunction with Theralase for the research and development of a coronavirus vaccine and therapeutic to be further evaluated in animal then human clinical testing in 2021.
A professor at University of Manitoba, Dr. Kevin Coombs, will lead the research team. Coombs said, "I have had the opportunity to independently evaluate Theralase's PDCs, on an in-vitro pre-clinical basis, as a potential new anti-viral drug; specifically targeting COVID-19.
"I have had the opportunity to independently evaluate Theralase's PDCs, on an in-vitro pre-clinical basis, as a potential new anti-viral drug; specifically targeting COVID-19. I have completed a preliminary analysis of how they affect two enveloped viruses very similar in make-up to COVID-19; specifically H1N1 Influenza and Zika virus, and am impressed with the high efficacy kill rates, both with and without stimulation."
TLT shares climbed 5.5 cents, or 32.4%, to 22.5 cents, on volume of 2.3 million shares.
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