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PSivida Corp. Announces Tech Evaluation Agreement For Tethadur™ Protein/Antibody Delivery System With Leading Biopharmaceutical Company

Stocks in this article: PSDVPVA

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 biopharmaceutical company to evaluate pSivida’s Tethadur™ protein/antibody delivery technology in the field of ophthalmology.

Tethadur™ is an application of pSivida’s BioSilicon™ technology platform designed to provide sustained delivery of large biologic molecules, including proteins, antibodies and peptides. Tethadur utilizes an injectable, bioerodible, nanostructured, porous BioSilicon material for drug delivery. The sizes of the pores in the BioSilicon material are manufactured using nanotechnology to accommodate specific protein, peptide or antibody molecules that are then released on a sustained basis over time as the material bioerodes.

“This is our first commercial agreement for Tethadur, based on BioSilicon, our second key technology platform, following our three approved products utilizing our Durasert ™ technology platform. We are very pleased to be entering into this evaluation agreement with a global leader in the field,” said Dr. Paul Ashton, President and CEO of pSivida Corp. “A sustained delivery system for these types of molecules would offer a significant clinical advance in the ophthalmic area where injections of protein based drugs into the eye every one or two months are sometimes required.”

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.

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. It has received marketing authorization for chronic DME considered insufficiently responsive to available therapies in the UK, Austria and Portugal following a positive review by Austria, France, German, Italy, Portugal, Spain and the UK under the Decentralized Procedure. Marketing authorization in the remaining countries is anticipated in the coming months. An investigator-sponsored clinical 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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