BOSTON, MASSACHUSETTS -- (MARKET WIRE) -- February 01, 2007 -- OccuLogix, Inc. (NASDAQ: OCCX)(TSX: OC) today announced that it has entered into a definitive agreement with institutional investors for the private placement of approximately 6.7 million shares of common stock at a price of US$1.50 per share, together with warrants to purchase approximately 2.7 million shares of common stock at an exercise price of US$2.20 per share. Gross proceeds from the private placement will be approximately US$10 million. The private placement is expected to close on or about February 6, 2007 and is subject to customary closing conditions, including approval by the Toronto Stock Exchange.
