AMD-therapy developer plans to sell stock

Mississauga, Ontario-OccuLogix, an ophthalmic therapeutic company working on treatments for age-related macular degeneration (AMD), plans to hold an initial public offering of its stock.

The company, formerly Vascular Sciences, and TLC Vision, its major shareholder, said it would file a registration statement with the SEC. Copies of the prospectus will be available from Citigroup Global Markets Inc.

Founded in 1996, OccuLogix is working on a variety of innovative treatments for eye disease, including rheopheresis, a filtering process designed to slow the progression of dry AMD by removing certain compounds in the blood. The business is valued at a total $350 million to $560 million, or $5 to $8 per TLC share.