pSivida Announces Tech Evaluation Agreement with Leading Pharmaceutical CompanyWATERTOWN, Mass.--(BUSINESS WIRE)--Nov. 22, 2011--
pSivida Corp. (NASDAQ:PSDV; ASX:PVA), a leader in developing sustained
release, drug delivery products for treatment of back-of-the-eye
diseases, today announced that it has signed a funded technology
evaluation agreement with a leading global pharmaceutical company to
evaluate pSivida’s bioerodible Durasert™ drug delivery technology in
ophthalmology.
pSivida is also independently developing a product to treat uveitis
affecting the posterior segment of the eye (posterior uveitis) and a
product to treat glaucoma and ocular hypertension in collaboration with
Pfizer.
About pSivida Corp.
pSivida Corp. (www.psivida.com)
develops tiny, sustained release drug delivery products designed to
deliver drugs at a controlled and steady rate for months or years.
pSivida is currently focused on the treatment of chronic diseases of the
back of the eye utilizing its core technology systems, Durasert™ and
BioSilicon™. Its present programs include infectious uveitis, glaucoma
and Tethadur™. pSivida has also licensed its technologies to Bausch &
Lomb (for the FDA-approved Vitrasert® and Retisert®) and Alimera
Sciences (for ILUVIEN for DME, which is awaiting a marketing decision
from the European Medicines & Healthcare Products Regulatory Agency –
MHRA).
SAFE HARBOR STATEMENTS UNDER THE PRIVATE SECURITIES LITIGATION REFORM
ACT OF 1995: 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 we intend, expect or believe 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 our forward-looking statements: ability to
obtain additional capital if needed; future losses; impairment of
intangibles; fluctuations in the fair values of certain outstanding
warrants; fluctuations in operating results; decline of royalty income
from Bausch & Lomb; Alimera's ability to obtain regulatory approval of
ILUVIEN for DME; Alimera's ability to successfully commercialize ILUVIEN
for DME if approved; risk/benefit profile of ILUVIEN for DME; timeliness
of approval, if any, of ILUVIEN for DME and any limitations on uses
thereof; ability to complete clinical trials, reference data and obtain
regulatory approval of other product candidates; ability to find
partners to develop and market products; termination of license
agreements; competition; market acceptance of products and product
candidates; reduction in use of products as a result of future
publications; ability to protect intellectual property or infringement
of others' intellectual property; 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 through exercise of
outstanding warrants and stock options or future stock issuances;
possible influence by Pfizer; ability to pay any registration penalties;
absence of dividends; and other factors described in our filings with
the Securities and Exchange Commission. Given these uncertainties,
readers are cautioned not to place undue reliance on such
forward-looking statements. Our forward-looking statements speak only as
of the dates on which they are made. We do not undertake any obligation
to publicly update or revise our 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.
Source: pSivida Corp.
In US:
Beverly Jedynak
President
Martin E. Janis &
Company, Inc.
312-943-1123
bjedynak@janispr.com
or
In
Australia:
Brian Leedman
Vice President, Investor Relations
pSivida
Corp.
+61 (0) 412 281 780
brianl@psivida.com
