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OccuLogix' POC Diagnostics Subsidiary Achieves Final TearLab(TM) Osmolarity System Development Milestone and Progresses to Manufacturing Stage

Posted on: Friday, 4 April 2008, 09:00 CDT

OccuLogix, Inc. (NASDAQ: OCCX)(TSX: OC) announced today that its point-of-care diagnostics subsidiary, OcuSense, Inc., has successfully validated the beta prototype of its patented TearLab(TM) Osmolarity System. This milestone demonstrates that OcuSense's production processes are capable of manufacturing larger unit volumes of its integrated system while also maintaining its quality standards and the precision of measuring osmolarity.

The TearLab(TM) Osmolarity System is comprised of three individual components - the TearLab(TM) Osmolarity Test Card, the TearLab(TM) Reader and the TearLab(TM) Pen. Under the terms of the stock purchase agreement between OcuSense and OccuLogix, The OcuSense Beta prototype would need to demonstrate its ability to collect 100 nanoliters (1 nanoliter equals 1/1,000,000,000 of a liter) of tears from a human subject and measure osmolarity within a 3% Coefficient of Variance (CV); a measurement that is typically used to assess the testing accuracy of diagnostic devices. The OcuSense Beta prototype has shown to measure osmolarity within 50 nanoliters at CVs far less than the CVs stated in its deal documents with OccuLogix.

According to Ben Sullivan, Ph.D., OcuSense's Chief Scientific Officer, "This milestone further validates our lab-on-a-chip approach to tear film osmometry. We have shown that our revolutionary tear collection interface enables untrained operators to collect nanoliters of tears from patients within seconds. The simplicity of the TearLab(TM) workflow is critical to seamlessly integrating our product into existing clinical routine. Moreover, our patented approach miniaturizes complex measurement systems onto an inexpensive, disposable microchip that has more testing accuracy at significantly lower sample volumes than conventional osmometers."

Michael Lemp, MD, a Clinical Professor of Ophthalmology at Georgetown and George Washington Universities and the Chief Medical Officer of OcuSense, commented, "Conventional tear testing systems are not suitable for clinical use due to their high cost and complexity, the need for large sample volumes, and the length of time required for testing. The introduction of the TearLab(TM) Osmolarity System into the clinical marketplace will address the significant unmet need amongst eye care practitioners for simple, point-of-care tests that can generate objective physiological data for improving the quality of clinical decision making."

Pursuant to OccuLogix' stock purchase agreement with OcuSense, the last $2,000,000 installment of the purchase price became due and payable upon OcuSense's achievement of this Beta milestone. As a result, OccuLogix has made this payment.

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.

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.

 Contacts: OccuLogix, Inc. Tom Reeves President and COO (905) 602-0887 ext. 3902 Email: tom.reeves@occulogix.com Website: www.occulogix.com

SOURCE: OccuLogix, Inc.

Source: MARKET WIRE

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