WAYNE, Pa., Jan. 7 /PRNewswire/ -- Escalon Medical Corporation
(Nasdaq: ESMC) today announced that, together with West Pharmaceutical
Services, Inc. (NYSE: WST), formerly named The West Company, Inc., it has
filed an Investigational New Drug (IND) application with the U.S. Food and
Drug Administration (FDA) for Ocufit SR(R).  Ocufit SR(R) is a proprietary
ophthalmic drug delivery system designed to fit comfortably under the eyelid
for seven or more days.  The goal of Ocufit SR(R) is to make eye disease
treatment easier and more effective for people requiring topical eye drop
therapy.
    The Ocufit SR(R) system to be developed under this IND contains the
non-steroidal anti-inflammatory drug diclofenac sodium.  The indication to be
studied with this novel diclofenac sodium formulation is the treatment of
post-operative inflammation in patients who have undergone cataract
extraction.  The initial human clinicals are expected to begin in early 1999,
upon FDA clearance.
    Escalon Chairman and Chief Executive Officer, Richard J. DePiano
commented, "We are very excited to begin human clinical testing of Ocufit
SR(R) with the first of our target drugs, diclofenac.  Our collaboration with
West Pharmaceutical Services has been important to our success to date and we
expect to continue to benefit from their manufacturing and drug delivery
expertise in the future.  Utilizing strategic partnerships to help develop our
technologies will continue to be a central part of Escalon's strategy and
together with West we will continue to seek strategic partnerships to help
bring Ocufit SR(R) to commercialization.  The Ocufit SR(R) diclofenac product
will target the approximately 2.0 million patients who receive cataract
surgery annually in the U.S."
    Founded in 1987, Escalon develops, markets and distributes ophthalmic
surgical and pharmaceutical products which provide a base of positive cash
flow to fund a targeted research and development effort.  The Company utilizes
strategic partnerships to help finance its development programs and is also
seeking acquisitions to further diversify its product line to achieve critical
mass in sales and take better advantage of the Company's distribution
capabilities.  Escalon has headquarters in Wayne, Pennsylvania and
manufacturing operations near Milwaukee, Wisconsin.
    Except for historical information contained herein, this press release
contains forward looking statements which include statements about the future
of Ocufit SR(R), the accuracy of which are necessarily subject to risks and
uncertainties.  Actual results may be affected by, among other things, risks
and uncertainties related to new product development and introduction cycles,
research and development activities, including failure to demonstrate clinical
efficacy, delays by regulatory authorities, scientific and technical advances
by the Company or third parties, introduction of competitive products, third
party reimbursement and physician training, and other risk factors and matters
set forth the Company's Annual Report on Form 10-K for the fiscal year ended
June 30, 1998 and Amendment No. 3 of the Registration Statement on Form 3
(Registration Statement No. 333-44513), which has been filed with the
Securities and Exchange Commission.

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