August 8, 2006, Toronto, ON, Canada--OccuLogix has signed a definitive merger agreement to acquire SOLX, pursuant to the Company's previously announced diversification plans focusing on age-related eye diseases. Based at the world-renowned Boston University Photonics Center in Boston, MA, SOLX is a privately held company developing novel approaches to the treatment of glaucoma.
SOLX's DeepLight Glaucoma Treatment System is being developed to provide physicians with new tools to reduce intraocular pressure in glaucoma sufferers through its DeepLight 790 Titanium Sapphire Laser and DeepLight Gold Micro-Shunt (GMS). Under the terms of the agreement, OccuLogix will be acquiring SOLX by way of a merger of SOLX and a newly incorporated, wholly owned subsidiary of OccuLogix. OccuLogix is a health care company that brings innovative and evidenced-based medical therapies to market.
The DeepLight 790 has been shown to provide deeper tissue penetration than other lasers currently used in trabeculoplasty without causing damage to the trabecular meshwork. The DeepLight GMS is a 24 karat gold ultra-thin implant that is approximately 2.5 mm wide, 5 mm long and one-third the thickness of a human hair. Unlike other glaucoma drainage devices, it is not a tube but, rather, is a flat plate designed for implantation through a single micro-incision. It contains numerous micro-tubular channels that bridge the anterior chamber and the suprachoroidal space, maximizing uveoscleral outflow to reduce IOP.
Doug Adams, SOLX's president and CEO, commented, "We believe the DeepLight GMS is the most significant advancement in surgical IOP reduction in 30 years. The OccuLogix RHEO System and the SOLX DeepLight Glaucoma Treatment System can re-define the way physicians treat age-related eye diseases."
For more information, visit www.solx.com.