TearLab Corporation Comments on Shire plc FDA Approval of Xiidra™ (lifitegrast ophthalmic solution) 5%

SAN DIEGO, July 12, 2016 (GLOBE NEWSWIRE) -- TearLab Corporation (NASDAQ:TEAR) (TSX:TLB) (“TearLab” or the “Company”), a company that develops and markets point of care ophthalmic in-vitro diagnostics, today recognized Shire plc on its recent US Food and Drug Administration (FDA) approval of Xiidra™ (lifitegrast ophthalmic solution) 5% for the treatment of signs and symptoms of Dry Eye Disease (DED).

“We would like to extend our sincere congratulations to Shire on securing FDA approval for Xiidra in the treatment of signs and symptoms of DED. As the first new DED prescription therapy approved in the U.S. in the past 13 years, this is an important milestone for the ophthalmic industry and the millions of DED patients in the U.S.   We believe Shire’s approval will improve awareness and lead to increased participation in the DED space,” said Seph Jensen, TearLab's Chief Executive Officer.

Dr. Edward Holland, M.D., Professor of Clinical Ophthalmology, University of Cincinnati added, “FDA approval of Xiidra is an exciting development for eye care professionals and dry eye sufferers alike.  As with any new drug, properly identifying patients most likely to benefit from treatment will be critical.  TearLab’s osmolarity test represents an important diagnostic tool to help identify DED patients and enable physicians to make more informed treatment decisions.”

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 NASDAQ Capital Market under the symbol 'TEAR' and on the Toronto Stock Exchange under the symbol 'TLB'.

Forward-Looking Statements

In order to provide TearLab’s investors with an understanding of our current intentions and future prospects, this release may contain statements that are forward-looking.  Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as “believes,” “anticipates,” “plans,” “expects,” “will,” “intends,” “potential,” “possible” and similar expressions are intended to identify forward-looking statements. These forward-looking statements include our expectations regarding increased participation in the DED space.

Forward-looking statements involve risks and uncertainties related to our business and the general economic environment, many beyond our control. These risks, uncertainties and other factors could cause our actual results to differ materially from those projected in forward-looking statements, including market risk and the risks we identify in reports filed with the Securities and Exchange Commission.

Although we believe that the forward-looking statements contained herein are reasonable, we can give no assurance that our expectations are correct. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. For a detailed description of our risks and uncertainties, you are encouraged to review the official corporate documents filed with the Securities and Exchange Commission. TearLab does not undertake any obligation to publicly update its forward-looking statements based on events or circumstances after the date hereof.