OccuLogix, Inc.

OccuLogix, Inc.

March 29, 2005 09:02 ET

OccuLogix Re-Acquires its Intellectual Property Rights to Non-Ophthalmic Indications for RHEO in North America


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: OCCULOGIX, INC.

NASDAQ SYMBOL: RHEO
TSX SYMBOL: RHE

MARCH 29, 2005 - 09:02 ET

OccuLogix Re-Acquires its Intellectual Property Rights
to Non-Ophthalmic Indications for RHEO in North America

TORONTO, ONTARIO--(CCNMatthews - March 29, 2005) -

- Enters Into Supply and Co-Marketing Agreement with Mobile Provider -

OccuLogix, Inc. (NASDAQ:RHEO)(TSX:RHE) today announced that, in
connection with entering into a supply and co-marketing agreement with
Rheogenx Biosciences Corporation ("Rheogenx"), OccuLogix has re-acquired
its patent, know-how and trademark rights to non-ophthalmic indications
for RHEO in North America that the Company had previously licensed to
Rheogenx.

The supply and co-marketing agreement secures for PhereSys Therapeutics
Corporation ("PhereSys"), Rheogenx's wholly-owned subsidiary, a supply
of pumps and disposable treatment sets. In addition, OccuLogix will
provide marketing support for PhereSys' mobile apheresis business, upon
OccuLogix obtaining FDA approval to market its RHEO System in the United
States. PhereSys is focused on building and consolidating a network of
mobile apheresis operations which enable doctors and institutions to
take advantage of both the current market opportunities available
through apheresis, as well as the potential market opportunity that will
emerge with the approval of the RHEO treatment.

"While we remain 100 percent focused on successfully obtaining FDA
approval to market our RHEO System for the treatment of Dry Age-Related
Macular Degeneration, we recognize that there may be a number of other
micro-vascular indications for which the RHEO System could also prove to
be effective," commented Elias Vamavakas, OccuLogix's Chairman and CEO.

Vamvakas continued, "This agreement allows us to pursue opportunities
for the RHEO System even beyond Dry AMD in the future, and provides us
with an important new customer in the nearer term. We believe that, once
FDA approved, a large number of doctors will want to incorporate RHEO
into their existing practices. In order to facilitate a rapid roll-out
to these service providers, we will support PhereSys and supply their
marketing materials to doctors who may be looking for a mobile provider."

About OccuLogix, Inc.

OccuLogix is an ophthalmic therapeutic company founded to commercialize
innovative evidence-based treatments for eye diseases, including
age-related macular degeneration. AMD is the leading cause of late onset
visual impairment and legal blindness in people over the age of 50.
OccuLogix's common shares trade on the NASDAQ National Market under the
symbol 'RHEO' and on the Toronto Stock Exchange under the symbol 'RHE'.

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 regulatory authorities,
including our Registration Statement on Form S-1. We do not undertake to
update any forward-looking statements.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    OccuLogix, Inc.
    Stephen Kilmer
    VP, Corporate Affairs
    (905) 602-0887 ext. 3904
    stephen.kilmer@occulogix.com