Biotech Values

[DewDiligence]

Re: Update on Rheopheresis:

[In #msg-3054537 I noted that Elias Vamrakas was a wheeler dealer, and today he didn’t disappoint. Vamrakas has resigned as CEO of the LASIK firm, TLCV, to become CEO of OccuLogix, the TLCV affiliate which offers Rheopheresis treatment for dry AMD.

I have my doubts about the efficacy of Rheopheresis, but I’ll reserve judgment until there is some peer-reviewed clinical data.]

http://biz.yahoo.com/bw/040813/135396_1.html

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TLCVision Announces Management Changes In Connection With Planned OccuLogix IPO

MISSISSAUGA, Ontario--(BUSINESS WIRE)--Aug. 13, 2004--TLC Vision Corporation (NASDAQ:TLCV - News; TSX:TLC - News) announced today management changes in connection with the planned initial public offering of OccuLogix, Inc. (formerly Vascular Sciences Corporation), of which TLCVision is a significant shareholder.

Earlier today, OccuLogix and TLCVision announced that OccuLogix had filed a registration statement with the U.S. Securities and Exchange Commission for the initial public offering of its common stock ("the OccuLogix IPO").

In order to lead OccuLogix as its chairman and chief executive officer, Elias Vamvakas has resigned from the position of chief executive officer of TLCVision, but will continue to chair TLCVision's Board of Directors. James C. Wachtman has been appointed to succeed Mr. Vamvakas' as chief executive officer of TLCVision.

Before becoming chief executive officer and director, Mr. Wachtman was the president, chief operating officer and director of TLCVision. Prior to the merger of TLC and LaserVision, Mr. Wachtman was president and chief operating officer of LaserVision from August 1998 and chief operating officer of North American operations of LaserVision between 1996 and 1998.

W. David Sullins Jr., O.D., D.O.S., chairman of TLCVision's Corporate Governance Committee, commented, "the succession plan that we've put in place puts TLCVision in the enviable position of being able to benefit both from Elias' continuing stewardship of our company's vision and from Jim's extraordinary management and execution abilities."
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