Therma Bright and Orpheus Medica Secure Mitacs Funding to Support Its COVID-19 Research and Development Program

Toronto, Ontario–(Newsfile Corp. – October 8, 2020) – Therma Bright Inc. (TSXV: THRM) (“Therma” or the “Company”), a progressive medical device technology company, and its co-development partner, Orpheus Medica Inc. (“Orpheus”) are pleased to announce the recent award of a Mitacs Elevate research internship program . The project proposal has been peer-reviewed and approved in late September for matching funds for a Postdoctoral Fellowship.

Therma and Orpheus are conducting feasibility testing of CoviSafe™. Additional biological molecules are now being added as part of our screening platform, which may allow us to fill the gap in the current screening methods to detect the COVID-19 virus in asymptomatic subjects suspected of encountering COVID-19 positive individuals.

Dr. Saeid Babaei, Orpheus’ CEO, commented, “We are excited to expand our research collaboration with our academic collaborators with support from the Mitacs research internship program. This funding will allow us the necessary resources to complete the basic understanding of SARS-CoV-2 mode of action and allow us to design the most optimal biological candidates.”

Rob Fia, Therma CEO, commented, “We are pleased with the progress made on building the foundation of our rapid test supported by a strong scientific team and powerful biological platform offered by Orpheus and its academic collaborators. We look forward to reporting to investors in the near future once our feasibility work on CoviSafe™ is completed.”

About Mitacs

Mitacs is a not-for-profit organization that fosters growth and innovation in Canada by solving business challenges with research solutions from academic institutions. Mitacs is funded by the Government of Canada, the Governments of Alberta, British Columbia, New Brunswick, Newfoundland and Labrador, Nova Scotia, Quebec and Saskatchewan, and Innovation PEI and Research Manitoba.

About Therma Bright Inc.

Therma Bright is a progressive medical device technology company focused on providing consumers and medical professionals with quality medical devices that address their medical and healthcare needs. The Company’s initial breakthrough proprietary technology delivers effective, non-invasive and pain-free skincare. Therma Bright received a Class II medical device status from the FDA for its platform technology that is indicated to relieve the pain, itch, and inflammation of a variety of insect bites or stings. The Company received clearance for the above claims from the US FDA in 1997.

Therma Bright is not making any express or implied claims that its product, CoviSafe™, has the ability to eliminate or cure COVID-19 (or SARS-CoV-2 virus).

Therma Bright Inc. trades on the TSXV (TSXV: THRM) (FSE: JNX). For more information, visit: www.thermabright.com and www.coldsores.com.

About Orpheus Medica Inc.

Orpheus Medica is a fully integrated research-driven Canadian biotech company focused on the development and commercialization of innovative diagnostic and therapeutics for unmet medical needs. Orpheus, with its fully integrated R&D infrastructure, provides strategic partners and collaborators access to its proven and proprietary discovery and development of novel biopharmaceutical products. Our team has over 15 years of proven and validated computational capabilities for analysis and optimization of single-domain antibodies and other polypeptides.

For further information, please contact:

Therma Bright
Rob Fia, CEO
rfia@thermabright.com

Follow us on Twitter: @bright_therma

Orpheus Medica.
Saeid Babaei, Chairman & CEO
sbabaei@orpheusmed.com

FORWARD-LOOKING STATEMENTS

Certain statements in this news release constitute “forward-looking” statements. These statements relate to future events as described in the news release. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

Neither the 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 press release.

This press release is not an offer of the securities for sale in the United States. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/65526