OccuLogix, Inc. (NASDAQ: RHEO)(TSX: RHE) today announced that it has terminated negotiations with Sowood Capital Management LP (“Sowood”) in connection with a proposed private purchase, by certain funds and accounts managed or advised by Sowood and its affiliates, of approximately US$30 million of zero-coupon convertible notes of the Company. This proposed transaction had been announced on June 14, 2006.
