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OccuLogix completes takeover
04 Sep 2006
Medical Affairs
Canadian health care company OccuLogix has announced the successful completion of its takeover of SOLX, a Boston-based firm.
OccuLogix sees the move as the next step in its work on age-related diseases, as SOLX has developed the DeepLight system for treating glaucoma patients.
SOLX will continue to function as before, having been brought into OccuLogix through a merger with an existing subsidiary.
Elias Vamvakas, OccuLogix's chairman and CEO, said in a statement: "Our objective is to build a leading ophthalmic device company that is focused on age-related eye diseases.
"We are confident that the acquisition of SOLX will demonstrate our ability to identify and then acquire or partner with new technologies that leverage our expertise in sales, marketing and regulatory along with our existing sales footprint to successfully bring new therapies to market," he added.
Doug Adams, president and CEO of SOLX, will be kept on board as president of the new subsidiary.
SOLX is based at the internationally renowned Boston University Photonics Centre.
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