Washington,
D.C. 20549
FORM
6-K
REPORT
OF
FOREIGN ISSUER
Pursuant
to Rule 13a-16 or 15d-16 of
the
Securities Exchange Act of 1934
For
the month of December 2005
Commission
File Number 000-51122
pSivida
Limited
(Translation
of registrant’s name into English)
Level
12
BGC Centre
28
The
Esplanade
Perth
WA
6000
(Address
of principal executive offices)
(Indicate
by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F).
Form
20-F
x Form
40-F o
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1):
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7):
Indicate
by check mark whether the registrant by furnishing the information contained
in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes
o No
x
If
"Yes"
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ___.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant,
pSivida Limited, has duly caused this report to be signed on its behalf by
the
undersigned, thereunto duly authorized.
| pSivida Limited | ||
| |
|
|
| Date: December 1, 2005 | By: | /s/ Aaron Finlay |
|
Aaron Finlay |
||
| Chief Financial Officer and Company Secretary | ||
EXHIBIT
INDEX
|
EXHIBIT
99.1:
|
pSivida
launches pSiNutria in the Food
Industry
|
-2-
ASX/Media
RELEASE
1
December 2005
pSivida
launches pSiNutria in the Food Industry
Applications
in food quality, safety, authentication
and
detection of bio terrorism
Global
bio-nanotech company pSivida Limited (ASX:PSD,
NASDAQ:PSDV, Xetra:PSI)
is
pleased to announce that it has created a new spinout company, pSiNutria
Limited
to develop applications of our silicon technology in the food industry. pSivida
will seed fund pSiNutria USD$1.1m (AUD$1.5m) as well as grant pSiNutria a
royalty bearing exclusive license for the use of BioSiliconTM
as an
ingestible ingredient in food applications. pSiNutria is also developing
patentable intellectual property using silicon in the food packaging
area.
pSiNutria
will subsequently seek its own public listing or trade sale. pSivida
shareholders would receive pSiNutria shares in any future public
listing.
pSivida
will use analysis from Lux Research Inc., the world's leading nanotechnology
research and advisory firm, to help develop the pSiNutria strategy. In its
report "Sizing Nanotechnology's Value Chain", Lux Research forecasts $31
billion
in nano-enabled products sales in 2005, in applications ranging from
semiconductors to medical devices to food packaging. Lux also notes that
food
industry giants like Kraft, Altria, and Unilever are pursuing nanotechnology
applications, underscoring this market's promise.
BioSiliconTM
applications in food primarily pertain to its biodegradability and optical
properties. BioSiliconTM
dissolves into silicic acid which is found in everyday foods such as beer,
wine,
rice and cereals. Potential pSiNutria products being developed includes;
products to detect pathogens in food, for food tracing, for food preservation,
and includes products to detect variations of temperature in food storage.
These
products may include ingestible BioSiliconTM
which
will dissolve into silicic acid in the body or silicon used in modified
atmosphere packaging.
pSivida
will prioritise potential products according to value, time to market and
technical barriers as well as collaborate with potential marketing and
development partners within the global food industry. There is the potential
to
have products on the market within a relatively short time frame given the
different regulatory environment to therapeutic products.
Greater
attention is being focused in the food industry on the quality and origin
of
food, particularly with concerns from bio terrorism where food sources may
be
deliberately contaminated. The ability to detect pathogens, deliberate
contamination or spoiling of food has enormous commercial value. The USDA
(United States Department of Agriculture) estimates of the costs of illness
and
premature death from the top five food borne pathogens at $6.9 billion in
the US
alone.
US
and EU
regulators are looking to smart packaging that sense and even prevent
disease-causing microbes and viruses. Additionally, food companies are seeking
to improve the quality of food, in particular the shelf life, traceability
and
nutrition, whilst maintaining taste with less salt, sugar, fat and preservatives
utilising innovative technologies such as those being employed by pSiNutria.
The
market for these so-called functional foods is estimated to be about $100
billion today - a fraction of the $3 trillion global food market, but with
categories growing at 15-40% annually.
Gavin
Rezos said, “pSiNutria is an important part of realising the value in the
BioSiliconTM
platform
technology. The food industry is a very different business from drug delivery
and, like AION Diagnostics our other spinout subsidiary, it will be separately
staffed with new appointments from the food industry, whilst pSivida maintains
its core focus on the drug delivery market.”
An
update
on progress made by our other spin out subsidiary, AION Diagnostics, will
be
made in the near future.
-ENDS-
Released
by:
|
pSivida
Limited
Brian
Leedman
Investor
Relations
pSivida
Limited
Tel:
+ 61 8 9226 5099
brianl@psivida.com
|
US
Public Relations
Beverly
Jedynak
President
Martin
E. Janis & Company, Inc
Tel:
+1 (312) 943 1100 ext. 12
bjedynak@janispr.com
|
UK
& Europe Public Relations
Mark
Swallow / Helena Podd
Citigate
Dewe Rogerson
Tel:
+44 (0)20 7638 9571
mark.swallow@citigatedr.co.uk
|
NOTES
TO EDITORS:
pSivida
is a global bio-nanotech company committed to the biomedical sector and the
development of products in healthcare. The company’s focus is the development
and commercialisation of a modified form of silicon (porosified or
nano-structured silicon) known as BioSilicon™.
pSivida
owns the intellectual property pertaining to BioSilicon™ for use in or on humans
and animals. The IP portfolio consists of 29 patent families, 36 granted
patents
and over 80 patent applications. The core patent, which recognises BioSilicon™
as a biomaterial was granted in the UK in 2000 and in the US in 2001.
pSivida
is listed on NASDAQ (PSDV),
the Australian Stock Exchange (PSD)
and in Germany on the Frankfurt Stock Exchange on the XETRA system (German Symbol:
PSI. Securities Code (WKN) 358705).
pSivida’s shares also trade in the United Kingdom on the OFEX International
Market Service (IMS) under the ticker symbol PSD.
pSivida is a founding member of the NASDAQ Health Care Index and the Merrill
Lynch Nanotechnology Index.
The
Company's strategic partner and largest shareholder is QinetiQ, a leading
international defence, security and technology company, formed in July 2001
from
the UK Government's Defence Evaluation & Research Agency (DERA).
QinetiQ was instrumental in discovering BioSilicon(TM) and pSivida enjoys
a
strong relationship with it having access to its cutting edge research and
development facilities. For more information on QinetiQ visit www.QinetiQ.com
For
more
information, visit www.psivida.com
This
document contains forward-looking statements that involve risks and
uncertainties. Although we believe that the expectations reflected in such
forward-looking statements are reasonable at this time, we can give no assurance
that such expectations will prove to be correct. Given these uncertainties,
readers are cautioned not to place undue reliance on such forward-looking
statements. Actual results could differ materially from those anticipated
in
these forward-looking statements due to many important factors including:
our
failure to develop applications for BioSiliconTM
due to
regulatory, scientific or other issues. Other reasons are contained in
cautionary statements in the Registration Statement on Form 20-F filed with
the
U.S. Securities and Exchange Commission, including, without limitation, under
Item 3.D, "Risk Factors" therein. We do not undertake to update any
oral or
written forward-looking statements that may be made by or on behalf of
pSivida.