OccuLogix Provides Progress Update on the Commercial Development of Its TearLab(TM) Osmolarity System
October 15 2008 - 8:00AM
Marketwired
OccuLogix, Inc. (NASDAQ: OCCXD)(TSX: OC) provided an update today
on the progress made by its wholly-owned subsidiary, OcuSense,
Inc., in the commercial development of its TearLab(TM) Osmolarity
System ("TearLab(TM)").
TearLab(TM) has recently received CE mark approval, clearing the
way for sales in the European Union and all countries recognizing
the CE Mark. In connection with the CE mark clearance, OcuSense has
achieved multi-year agreements with four distributors for exclusive
distribution of TearLab(TM) in five European Union countries.
Beginning immediately, TearLab(TM) will be available in:
- United Kingdom and the Republic of Ireland distributed by the
Birmingham Optical Group;
- Germany distributed by Bon Optic;
- Spain distributed by Equipsa; and
- Italy distributed by SIFI Diagnostics
Additional European countries will be added during the coming
months as the Company expands its distribution network.
"The introduction of TearLab(TM) into the eye care market
addresses the unmet need for simple, point-of-care tests that can
generate objective physiological data for improving the quality of
clinical decision making," said Eric Donsky, OccuLogix' CEO.
"In addition, the ability to perform tear osmolarity testing in
the office, using any member of the clinical staff, is a
significant improvement upon current methods of assessing tear
osmolarity," continued Donsky.
About Osmolarity
Studies have shown that osmolarity, the measurement of total
solute concentration in patients' tears, is objective and
quantitative, and a highly specific biomarker.(i) In dry eye
disease, the accuracy of tear film osmolarity is considered
superior to any other single test for dry eye analysis, including
Lactoplate, Schirmer's test, and corneal staining.(ii)
Measuring osmolarity using current in-lab testing technologies
presents a challenge because of the need for large volumes of tear
fluid. Currently, osmolarity can only be tested in reference labs,
which makes this type of testing difficult because of the need to
either ship samples and risk evaporation, or require the patient to
travel to a lab for testing.
About TearLab(TM)
The introduction of the TearLab(TM) Osmolarity System marks a
significant change in how tear osmolarity testing will be
conducted. The TearLab(TM) technology uses a novel "lab-on-a-chip"
approach that requires less than 50 nL (nanoliters) of tear fluid
in order to measure tear osmolarity. By using such a small amount
of tears, the TearLab(TM) Osmolarity System mitigates issues that
have hindered practical, objective point-of-care osmolarity
testing. The system consists of three components: the TearLab(TM)
Osmolarity Test Card, the TearLab(TM) Reader and the TearLab(TM)
Pen.
About OccuLogix, Inc.
OccuLogix (www.occulogix.com) is a healthcare company focused on
ophthalmic devices for the diagnosis and treatment of age-related
eye diseases. Its wholly-owned subsidiary, OcuSense, Inc.
(www.ocusense.com) is an in vitro diagnostics company developing
and commercializing novel, laboratory-on-a-card technologies that
enable eye care practitioners to test for highly sensitive and
specific biomarkers in tears at the point-of-care.
Forward-Looking Statements
This press release may contain forward-looking statements. These
statements relate to future events and are subject to risks,
uncertainties and assumptions about the Company. These statements
are only predictions based on our current expectations and
projections about future events. You should not place undue
reliance on these statements. Actual events or results may differ
materially. Many factors may cause our actual results to differ
materially from any forward-looking statement, including the
factors detailed in our filings with the Securities and Exchange
Commission and Canadian securities regulatory authorities,
including but not limited to our Forms 10-K and 10-Q. We do not
undertake to update any forward-looking statements.
-------------------------------------
(i) Tomlinson A, Khanal S, Ramaesh K, Diaper C, McFadyen A. Tear film
osmolarity: determination of a referent for dry eye diagnosis.
Invest Ophthalmol Vis Sci 47:4309-15, 2006
(ii) Tomlinson A, Khanal S, Ramaesh K, Diaper C, McFadyen A. Tear film
osmolarity: determination of a referent for dry eye diagnosis.
Invest Ophthalmol Vis Sci 47:4309-15, 2006
Contacts: OccuLogix Inc. Eric Donsky Chief Executive Officer
(858) 794-1422 Email: edonsky@TearLab.com Website:
www.occulogix.com
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