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TearLab Osmolarity System Launches in Brazil
SAN DIEGO, Feb. 28, 2018 (GLOBE NEWSWIRE) -- TearLab Corporation (OTCQB:TEAR) (TSX:TLB) (“TearLab” or the “Company”) today announced that it plans to launch the TearLab Osmolarity System at the 2018 Simpósio Internacional Moacyr Álvaro (SIMASP) Annual Meeting, being held March 1-3, 2018 in São Paulo, Brazil. TearLab will launch the system with its Brazilian commercial partner, Adapt Produtos Oftalmológicos. The launch of the TearLab Osmolarity System follows the May 2017 approval of the product to aid in the diagnosis of Dry Eye Disease (DED) by the Agência Nacional de Vigilância Sanitária (ANVISA).
Additionally, Tearlab’s Osmolarity System will be featured at the Adapt Symposium being held March 1, 2018 in conjunction with the SIMASP Congress. Dr. Jose Alvaro P. Gomes, Professor of Ophthalmology at the Federal University of Sao Paulo and a member of the Board of Directors for the Tear Film Ocular Surface Society (TFOS) will provide an overview of the benefits and impact of osmolarity testing in a clinical setting. Dr. Gomes was one of the coordinators of the Dry Eye Workshop II (TFOS/DEWS II), a global consensus on DED that was published in the second quarter of 2017 containing the latest recommendations for diagnosis and treatment of DED.
Dr. Gomes commented, “Brazil is a large market with a significant unmet need for DED diagnosis. The TearLab Osmolarity System provides clinicians and ophthalmologists a fast and reliable method to aid in the diagnosis of DED. With its objective measurement and fast results at the point of care, the system provides great value for both eye care professionals and patients.”
Seph Jensen, CEO of TearLab Corporation added, "Our entry into Brazil, Latin America’s largest market, is an important milestone for the Company. We are very pleased to expand our global presence into the Brazilian market in partnership with Adapt who has been a premier distribution player in the ophthalmic space in Brazil for over 25 years. This partnership is consistent with our goal of offering the best solutions for diagnosis of ophthalmic disorders in key markets worldwide.”
DED is a highly prevalent condition in Latin America with an estimated 26 million people suffering from the disease. Brazil is one of the major markets in the region for DED diagnostics and treatments. TearLab’s Osmolarity System offers an objective assessment that aids in the diagnosis and management of patients with DED by measuring the osmolarity of human tears.
About TearLab Corporation
TearLab Corporation (www.tearlab.com) develops and markets lab-on-a-chip technologies that enable eye care practitioners to improve standard of care by objectively and quantitatively testing for disease markers in tears at the point-of-care. The TearLab Osmolarity Test, for diagnosing Dry Eye Disease, is the first assay developed for the award-winning TearLab Osmolarity System. TearLab Corporation's common shares trade on the OTCQB Market under the symbol 'TEAR' and on the Toronto Stock Exchange under the symbol 'TLB'.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among others, statements concerning the commercial acceptance of the TearLab Osmolarity System in the Brazilian market and our ability to successfully commercialize the product with our local partner, the timing of the commercial launch, the ultimate acceptance of osmolarity testing by eye care professionals in Brazil and perceptions by governments, insurers and patients that may have to pay for the osmolarity test in Brazil and their willingness to do so. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to be materially different from any future results expressed or implied by the forward-looking statements. Forward-looking statements are based on management’s current, preliminary expectations and are subject to various risks and uncertainties. Many factors, risks and uncertainties may cause our actual results to differ materially from forward-looking statements, including the factors, risks, and uncertainties detailed in our filings with the Securities and Exchange Commission and Canadian securities regulatory authorities, including but not limited to our Annual Report on Form 10-K for the year ended December 31, 2016, filed with the SEC on March 10, 2017,and our Quarterly Reports on Form 10-Q for the quarter ended September 30, 2017, filed with the SEC on November 13, 2017. We do not undertake to update any forward-looking statements except as required by law.
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The Ruth Group