Timeless Capital Corp V.TLC

Look out below?

[QuercusAlba]

I'm no scientist, but this does not look good: TLCVision Provides Update on OccuLogix MIRA-1 Trial 07:15 EST Friday, February 03, 2006 ST. LOUIS, MISSOURI--(CCNMatthews - Feb. 3, 2006) - TLC Vision Corporation (TSX:TLC)(NASDAQ:TLCV), North America's premier eye care services company, announced today that OccuLogix, Inc. (NASDAQ:RHEO)(TSX:RHE), of which TLCVision has 51% ownership, has completed a preliminary analysis of the data from MIRA-1, its recently completed pivotal (phase III) clinical trial using its RHEO(TM) System to treat the dry form of age-related macular degeneration ("Dry AMD"). MIRA-1 did not demonstrate a statistically significant difference in the mean change of Best Spectacle-Corrected Visual Acuity applying the Early Treatment Diabetic Retinopathy Scale ("ETDRS BCVA") between the treated and placebo groups at 12-months post-baseline. As expected the treated group demonstrated a positive response. An anomalous response of the control group is the principal reason that the primary efficacy endpoint was not met. There were subgroups that did demonstrate statistical significance in their mean change of ETDRS BCVA versus control. Further analysis of the study data is being undertaken. There is a large patient population suffering from Dry AMD, with limited therapies available to treat this devastating disease. OccuLogix is in the process of evaluating the implications of the MIRA-1 study data on its application to the U.S. Food and Drug Administration for approval to market its RHEO(TM) System in the United States. TLCVision will provide further updates as they become available.