WATERTOWN, Mass.--(BUSINESS WIRE)--
pSivida Corp. (Nasdaq: PSDV), a specialty pharmaceutical company that is
a leader in developing sustained release drugs for the treatment of
back-of-the-eye diseases, today announced that it intends to offer and
sell shares of its common stock in a proposed underwritten public
offering. All of the shares will be sold by pSivida. The offering is
subject to market and other conditions, and there can be no assurance as
to whether or when the offering may be completed, or as to the actual
size or terms of the offering.
Ladenburg Thalmann & Co. Inc. is acting as the sole book-running manager
of the offering and MLV & Co. LLC is acting as co-manager for the
offering.
The securities described above are being offered by pSivida pursuant to
a registration statement on Form S-3 previously filed and declared
effective by the Securities and Exchange Commission (SEC). A preliminary
prospectus supplement relating to the offering has been filed with the
SEC. The offering may be made only by means of the preliminary
prospectus supplement and the prospectus relating to the proposed
offering, copies of which may be obtained, when available, from
Ladenburg Thalmann & Co. Inc., 58 South Service Road, Suite 160,
Melville, New York 11747, Attention: George Mangione, (631) 270-1611 or GMangione@ladenburg.com.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities in the offering, nor
shall there be any sale of these securities in any jurisdiction in which
an offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such jurisdiction.
About pSivida Corp.
pSivida Corp., headquartered in Watertown, Massachusetts, develops tiny,
sustained release, drugs designed to be released at a controlled and
steady rate for months or years. pSivida is currently focused on
treatment of chronic diseases of the back of the eye utilizing its core
technology systems, Durasert™ and BioSilicon™. The injectable, sustained
release micro-insert ILUVIEN® for the treatment of chronic Diabetic
Macular Edema (DME), licensed to Alimera Sciences, Inc., has received
marketing authorization in Austria, France, Germany, Portugal, the U.K.
and Spain and is awaiting authorization in Italy. ILUVIEN for DME has
not been approved in the US. pSivida has commenced the first of two
planned pivotal Phase III clinical trials for the treatment of posterior
uveitis with the same micro-insert as ILUVIEN for DME. An
investigator-sponsored clinical trial is ongoing for an injectable,
bioerodible micro-insert to treat glaucoma and ocular hypertension.
pSivida's FDA-approved product, Retisert®, for the treatment of
posterior uveitis, is licensed to Bausch & Lomb. Other technologies
under development by pSivida include protein and antibody delivery
systems in early clinical stages.
Forward-looking Statements
Various statements made in this release are forward-looking, and are
inherently subject to risks, uncertainties and potentially inaccurate
assumptions. All statements that address activities, events or
developments that pSivida intends, expects or believes may occur in the
future are forward-looking statements. The following are some of the
factors that could cause actual results to differ materially from the
anticipated results or other expectations expressed, anticipated or
implied in pSivida's forward-looking statements, including
uncertainties with respect to: our ability to successfully complete the
offering on terms and conditions satisfactory to us; the possible
adverse impact of the offering on the market price of our shares of
common stock; the initiation, financing and success of Phase III
posterior uveitis trials, including efficacy, side effects and
risk/benefit profile of the posterior uveitis micro-insert; Alimera's
ability to finance, achieve additional marketing approvals, successfully
commercialize and achieve market acceptance of, and generate revenues to
pSivida from, ILUVIEN for DME in the EU; the outcome of reimbursement
for ILUVIEN in the U.K., Alimera's resubmission of its NDA for ILUVIEN
for DME and its ability to obtain regulatory approval for, and if
approved, to finance, successfully commercialize and achieve market
acceptance of, and generate revenues to pSivida from, ILUVIEN for DME in
the U.S.; initiation, financing and success of Latanoprost Product Phase
II trials and exercise by Pfizer, Inc. of its option to license the
worldwide development and commercialization of the Latanoprost Product
for the treatment of human ophthalmic disease or conditions other than
uveitis; development of products using Tethadur™ and BioSilicon;
initiation and completion of clinical trials and obtaining regulatory
approval of product candidates; adverse side effects; ability to attain
profitability; pSivida's ability to obtain additional capital; further
impairment of intangible assets; fluctuations in operating results; a
decline in royalty revenues; pSivida's ability to, and to find partners
to, develop and market products; termination of license agreements;
competition and other developments affecting sales of products; market
acceptance; protection of intellectual property and avoiding
intellectual property infringement; retention of key personnel; product
liability; consolidation in the pharmaceutical and biotechnology
industries; compliance with environmental laws; manufacturing risks;
risks and costs of international business operations; credit and
financial market conditions; legislative or regulatory changes;
volatility of stock price; possible dilution; possible influence by
Pfizer, Inc.; an absence of dividends; and other factors described in
pSivida's filings with the SEC. Given these uncertainties, readers are
cautioned not to place undue reliance on such forward-looking
statements. pSivida's forward-looking statements speak only as of
the dates on which they were made. Except as required by law, pSivida
does not undertake any obligation to publicly update or revise its
forward-looking statements, even if experience or future changes
makes it clear that any projected results expressed or implied in such
statements will not be realized.
IN US:
Martin E. Janis & Company, Inc.
Beverly Jedynak,
President
312-943-1123; 773-350-5793 (cell)
bjedynak@janispr.com
or
IN
AUSTRALIA:
pSivida Corp.
Brian Leedman, Vice President,
Investor Relations
+61 (0) 41 228 1780
brianl@psivida.com
Source: pSivida Corp.
News Provided by Acquire Media
