pSivida Reports Tech Evaluation Deal with Leading Global Pharma Company

pSivida Corp.

, a specialty pharmaceutical company that is a leader in the development of sustained release ophthalmic drug treatments, today announced that it has signed a funded technology evaluation agreement with a leading global pharmaceutical company. The agreement will evaluate pSivida's proprietary Durasert™ and Tethadur™ technologies for this pharmaceutical company's select products in ophthalmology. The Durasert technology system delivers specific quantities of drugs directly to a target site in the body at controlled rates for predetermined periods of time ranging from weeks to months. Tethadur is pSivida's proprietary technology for the delivery of proteins, peptides and antibodies. “We are extremely pleased to be working with another global pharmaceutical company to apply our unique technologies to develop transformational products in ophthalmology,” said Dr. Paul Ashton, pSivida president and CEO. pSivida has developed three of the four sustained release devices for retinal diseases that have been approved in either the US or Europe, the most recent being ILUVIEN®, partnered with Alimera and approved in multiple EU countries. Independently, pSivida is developing an injectable, sustained release product to treat uveitis affecting the back of the eye (posterior uveitis) and an injectable, bioerodible product to treat glaucoma and ocular hypertension in collaboration with Pfizer.