This article is more than 5 years old. Information may no longer be current.

OccuLogix to buy Solx

Add topic to email alerts

Receive an email when new articles are posted on

Please provide your email address to receive an email when new articles are posted on .

Subscribe

Added to email alerts

You've successfully added to your alerts. You will receive an email when new content is published.

Click Here to Manage Email Alerts

You've successfully added to your alerts. You will receive an email when new content is published.

Click Here to Manage Email Alerts

Back to Healio

We were unable to process your request. Please try again later. If you continue to have this issue please contact customerservice@slackinc.com.

Back to Healio

TORONTO — OccuLogix Inc. said it plans to buy glaucoma device manufacturer Solx Inc. for an undisclosed sum, the company announced in a press release.

OccuLogix markets the Rheo System in Europe for the treatment of dry age-related macular degeneration. The company announced positive results from a rheopheresis trial last month, but it said it believes the Food and Drug Administration will require further study until OccuLogix reaches a minimum of 150 data sets.

Solx developed and markets the DeepLight Glaucoma Treatment System, which includes a laser and gold micro-shunt that work together or separately to manage IOP. The system has received the CE mark in Europe and 510K approval is expected in the United States before the end of 2007, the release said.

Although financial terms were not released, OccuLogix will provide Solx a $2 million bridge loan and has said it expects the purchase price of Solx to be paid in OccuLogix stock.