ex99_2.htm


    
      

    

    EXHIBIT
99.2

     

    

     

    
      News
Release

      For
Immediate Release

      OccuLogix
Effects Reverse Stock Split

       

      Toronto,
ON—October 7, 2008— OccuLogix, Inc. (NASDAQ: OCCX; TSX: OC) announced that it
has effected a 1:25 reverse stock split of its common stock, as a result of
which every 25 issued and outstanding shares of common stock has been combined
into one share.  No fractional share will be issued as a result of the
reverse stock split.  Rather, stockholders of the Company will receive
a whole share in lieu of any fractional share to which they might otherwise have
been entitled.

      


      OccuLogix’s
common stock will begin trading on a split-adjusted basis on NASDAQ and the TSX,
effective at the open of business on Thursday, October 9, 2008.  The
letter “D” will be appended to OccuLogix’s NASDAQ ticker symbol, OCCX, for a
period of 20 trading days, after which time the letter “D” will be
removed.  The Company’s common stock will also trade under a new CUSIP
number.

      


      The
reverse stock split affects all of OccuLogix’s issued and outstanding shares of
common stock, as well as the number of shares issuable upon the exercise of
outstanding stock options and warrants.

      


      The
Company’s stockholders of record will receive instructions from the Company’s
transfer agent, Mellon Investor Services LLC, regarding the procedures for
exchanging their stock certificates in connection with the reverse stock
split.  Those stockholders holding their common stock in “street name”
will receive instructions from their brokerage firms if they need to take any
action in connection with the reverse stock split.

      


      The
Company’s board of directors had recommended the reverse stock split, in part,
to help the Company regain compliance with the $1.00 minimum bid price
requirement for continued listing on NASDAQ.  OccuLogix’s stockholders
approved the reverse stock split at the Annual and Special Meeting of
Stockholders on September 30, 2008, and the Company’s board of directors set the
reverse split ratio at 1:25 on that same day.

      


      About
OccuLogix, Inc.

      


      OccuLogix
(www.occulogix.com) is
a healthcare company focused on ophthalmic devices for the diagnosis and
treatment of age-related eye diseases.  Its wholly-owned subsidiary,
OcuSense, Inc. (www.ocusense.com) is
an ophthalmic device company developing and commercializing novel,
laboratory-on-a-card technologies that enable eye care practitioners to test for
highly sensitive and specific biomarkers in tears at the
point-of-care.

      


      Forward-Looking
Statements

      


      This
press release may contain forward-looking statements.  These
statements relate to future events and are subject to risks, uncertainties and
assumptions about the Company.  These statements are only predictions
based on our current expectations and projections about future
events.  You should not place undue reliance on these
statements.  Actual events or results may differ materially. Many
factors may cause our actual results to differ materially from any
forward-looking statement, including the factors detailed in our filings with
the Securities and Exchange Commission and Canadian securities regulatory
authorities, including but not limited to our Forms 10-K and 10-Q.  We
do not undertake to update any forward-looking statements.

      


      


      FOR
FURTHER INFORMATION, PLEASE CONTACT:

      


      Suh
Kim

      (905)
602-0887, ext. 3915

      suh.kim@occulogix.com