Theralase Technologies Inc. · TSXV:TLT
Theralase Technologies — Investor Presentation (November 2025)
20 slides from Theralase Technologies's investor presentation, Nov 14, 2025
Slide 1: Corporate Presentation
Corporate Presentation TSXV:TLT | OTCQB:TLTFF November 14th, 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements 2 Forward-Looking Statements (“FLS”) contained in this presentation deal with the future revenue potential, business opportunities and/or strategic initiatives of Theralase® Technologies Inc. (“Theralase®” or the “Company”); including, information, analyses and/or projecti
Slide 3: Company
Company 3 Scientific and Pipeline Non-Muscle Invasive Management Team Intellectual Property Preclinical Research Primary Indication Bladder Cancer Extensive experience in: 1 29 issued patents and 17 Small molecules researched and patents pending for small Non-Muscle Invasive Bladder Cancer 2 Phase I
Slide 4: Strategic Objectives
Strategic Objectives 4 4Q2025 Enroll and treat 2 additional patients in Phase II bladder cancer clinical study (88/90 patients enrolled and treated to date, 72 patients have completed study) 1Q2027 Soft and hard data lock of Study II. Submit clinical data to Health Canada and FDA 3Q2027 Marketing ap
Slide 5: Ruvidar®
Ruvidar® 5 • Ruthenium-based small molecule • Designed to destroy solid core tumours (bladder, brain, lung and breast) when absorbed by the cancer cell and energy-activated 1 • Commercially manufactured in kilogram batches with high yield and high purity (> 98%) • < 0.5 grams used for bladder cancer
Slide 6: Cancer
Cancer 6 Cancer cells ignore signals from the immune system, multiply, grow and lead to tumours that will kill the host, if not destroyed The human body has over 30 trillion cells (200 different types, leading to over 100 known types of cancer) All cells require molecular iron to grow. Cancer cells
Slide 7: Mechanism of Action
Mechanism of Action Visible or Near Infra Red Light, 7 Transferrin Radiation, Sound and/or Drug-Activated Receptor (“TfR”) 2 Rutherrin + TfR 1O 2 RuvidarTM ROS Cancer cell destruction via Immunogenic Rutherrin® 1 Cancer Cell Cell Death (“ICD”) activating the innate Ruvidar® Retained and adaptive imm
Slide 8: Bladder Cancer
Bladder Cancer 8 Non-Muscle Invasive Bladder Cancer (“NMIBC”) 9th Most Common Cancer Worldwide 4th leading cancer in men 1 Muscle Invasive Bladder 84,870 in US 1 Cancer (“MIBC”) 12,300 in Canada 2 200,000 in Europe 3 614,298 in World 4 1) Key Statistics for Bladder Cancer | American Cancer Society (
Slide 9: Study Design
Study Design 9 • 90 patients with BCG-Unresponsive NMIBC CIS (88 patients treated to date, 2 patients to be completed in 4Q2025) • 12 clinical study sites currently enrolling patients in Canada and the United States • Patient provided primary Study Procedure on Day 0 (1 hour of drug instillation, 1
Slide 10: Study Procedure
Study Procedure 10 Bladder cancer cells Ruvidar® instilled Ruvidar® localizes Green laser light destroyed by the in bladder via catheter preferentially inside activates Ruvidar® production of singlet demonstrating bladder cancer cells 2,3 through fiber optics oxygen and / or Reactive absorption into
Slide 11: Clinical Target
Clinical Target 11 A clinically meaningful initial Complete Response rate for Carcinoma In-Situ or recurrence- free rate (for papillary tumors) of at least: • 50% at 6 months • 30% at 12 months • 25% at 18 months is recommended. 1 1) Kamat A.M. et al. International Bladder Cancer Group. J Clin Oncol
Slide 12: Patient Demographics
Patient Demographics 1 12 PREVIOUS BCG THERAPY AGE SEX RACE STAGE TREATMENTS Female Non-White CIS + Ta <7 < 65 18% 17% CIS + T1 6% 6% 18% 13% >= 65 Male White CIS ≥7 82% 82% 83% 81% 94% Ruvidar® has been demonstrated to achieve complete responses in patients, previously treated with and who failed t
Slide 13: Clinical Data (Interim)
Clinical Data (Interim) 1 13 Primary Endpoint Performance (CR at any Point in Time) # % Confidence Interval (95%) Primary Endpoint Complete Response 54/84 64.3% [47.1, 81.4] ("CR") Total Response (CR 61/84 72.6% [54.4, 90.8] and IR) Secondary Endpoint Performance (Duration of CR) (450 Days) Secondar
Slide 14: FDA Approved Drugs
FDA Approved Drugs 14 Initial Company/ FDA Number of Complete Duration of Market Approved Drug Patients Response Response Annual Patient Cost Capitalization (Date of Approval) Completed (“CR”) (12 months) (24 months) (36 months) Pros Cons ($USD 000s) ($USD Billion) IBCG Guidelines 50.0% 30.0% 20.0%
Slide 15: Non-FDA Approved Drugs
Non-FDA Approved Drugs 15 Initial Number of Complete Duration of Market Competitive Drug Patients Response Response Annual Patient Cost Capitalization (Non-FDA Approved) Completed (“CR”) (12 months) (24 months) (36 months) Pros Cons ($USD 000s) ($USD Billion) IBCG Guidelines 50.0% 30.0% 20.0% 15.0%
Slide 16: Development Timeline
Development Timeline 16 Milestone 2019 2020 2021 2022 2023 2024 2025 2026 2027 90 Patients Enrolled and Provided Primary Study Treatment (Projected) FDA Fast Track Designation (Actual) Patient Follow Up (Projected) Premarket Approval (Study Device) (Projected) Data Lock / Clinical Study Report Submi
Slide 17: Investment Highlights
Investment Highlights 17 Large Addressable Market 9th most common cancer in the world (4th in men) with international bladder cancer markets estimated at $USD 8 B annually Unique Value Proposition for Patients, Practitioners and Insurance Companies Patented light-activated small molecule that provid
Slide 18: Intellectual Property
Intellectual Property 1 18 Expiry Patent Description April 2033 Metal-Based Thiophene Photodynamic Compounds and Their Use Protects Ruvidar® and all associated molecules in the USA, Canada, Russia, China, Europe, Brazil and India March 2034 Metal-Based Coordination Complexes as Photodynamic Compound
Slide 19: Capital Structure
Capital Structure 19 TSXV:TLT 11/13/2025 Common share price $CAN 0.20 Warrants 51,537,205 Market Capital $CAN 51.4 M Options 19,620,000 Shares Outstanding 257,058,334 Finder Units 33,864 Insider Fully Diluted 318,663,785 12.7% Fully Diluted Ownership
Slide 20: Contact Information
Contact Information Roger DuMoulin-White, B.Sc., P.Eng., Pro.Dir. President and Chief Executive Officer rwhite@theralase.com, 416.699.5273 x 225 Arkady Mandel, M.D., Ph.D., D.Sc. Chief Scientific Officer Toll Free: 1.866.THE.LASE (843.5273) amandel@theralase.com, 416.699.5273 x 260 Work: 416.699.LAS
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