pSivida Corp. (NASDAQ: PSDV)(ASX: PVA), a leader in developing sustained release, drug delivery products for treatment of back-of-the-eye diseases, announced today that it has elected Douglas Godshall to its Board of Directors.
Doug Godshall, age 47, is the Chief Executive Officer and a director of HeartWare International, Inc., a leading innovator of less invasive, miniaturized circulatory support technologies that are revolutionizing the treatment of advanced heart failure. Under Mr. Godshall’s leadership, HeartWare’s Ventricular Assist System received CE marking in the EU and TGA approval in Australia and is currently the subject of U.S. clinical trials for two indications. With the successful international commercialization of the device, HeartWare generated record revenues of $82.8 million in fiscal year 2011. Mr. Godshall and his team are advancing the next generation, miniaturized pump and introducing enhancements to the current product.
Mr. Godshall joined HeartWare in 2006 from Boston Scientific Corporation where he worked for 16 years. He held various executive and leadership positions at Boston Scientific, including President of the Vascular Surgery Division, a member of Boston Scientific’s Operating Committee and had previously served as Vice President, Business Development where he oversaw more than 70 transactions including several strategic investments in the Ophthalmology arena.
“We are very pleased to welcome Doug Godshall to pSivida as a director,” said Dr. David Mazzo, Chairman of the Board of pSivida Corp. “Doug has a demonstrated track record of building successful businesses and has led the clinical development, market launch and commercial rollout of a range of medical devices. The pSivida Board will benefit from his significant experience in development and marketing of medical products as we continue to work to build shareholder value.”About pSivida Corp. pSivida Corp., headquartered in Watertown, MA, 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 treatment of chronic diseases of the back of the eye utilizing its core technology systems, Durasert™ and BioSilicon™. ILUVIEN® for the treatment of Diabetic Macular Edema (DME), which is licensed to Alimera Sciences, Inc., is pSivida’s most advanced product candidate, and based on a consensus arrived upon by the RMS and the CMS, the MHRA issued its Final Assessment Report that ILUVIEN for chronic DME is approvable. An investigator-sponsored Investigational New Drug application opened for an injectable insert to treat posterior uveitis of the same design as ILUVIEN for DME, and an investigator-sponsored trial is ongoing for an injectable, bioerodible insert to treat glaucoma and ocular hypertension. pSivida’s two FDA-approved products, Retisert® and Vitrasert®, are implants that provide long-term, sustained drug delivery to treat two other chronic diseases of the retina.
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