pSivida Reports Australia/New Zealand Distribution Agreement for ILUVIEN
pSivida Corp. (NASDAQ: PSDV) (ASX:PVA), a leader in the development of sustained release, drug delivery products for treating eye diseases, today announced that its licensee Alimera Sciences has signed an exclusive agreement with Specialised Therapeutics Australia (STA) for the distribution in Australia and New Zealand of ILUVIEN® for the treatment of diabetic macular edema (DME). Under the agreement, STA also will handle all regulatory and commercial activities for ILUVIEN in those countries.
The agreement between Alimera and STA will include a milestone payment to Alimera for achievement of a public reimbursement listing, and royalties based on net sales that will increase if a sales target is met. pSivida is entitled to 20% of royalties and 33% of all other payments received by Alimera, including milestones.
“We are pleased to see this agreement for the commercialization of ILUVIEN for DME in Australia and New Zealand and the potential for patients in those countries suffering from chronic DME to be treated with ILUVIEN,” said Dr. Paul Ashton, President and CEO of pSivida.
STA is a biopharmaceutical company dedicated to working with leading biotechnology and pharmaceutical companies worldwide to make specialized therapies available to people living in Australia and New Zealand. The STA therapeutic portfolio and pipeline currently encompasses oncology, hematology, ophthalmology and infectious diseases. STA also has interests in the therapeutic areas of respiratory, dermatology, endocrinology and central nervous system.
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