WATERTOWN, Mass., June 28, 2017 (GLOBE NEWSWIRE) -- pSivida Corp. (NASDAQ:PSDV) (ASX:PVA), a leader in the development of sustained release drug products and technologies, today announced that Kristine Peterson, a seasoned healthcare executive has been elected to the Company's Board of Directors.  Ms. Peterson has extensive pharmaceutical experience, having served as the Chief Executive Officer of Valeritas (2009-2016), a publicly-traded commercial-stage medical technology company focused on improving health and simplifying life for people with diabetes.  She was also Company Group Chair of Johnson & Johnson's ("J&J") biotech groups (2006-2009), where she oversaw the research, development, manufacturing and commercialization of oncology, immunology, and other biotechnology therapeutics.  Ms. Peterson's election increases the Company's Board of Directors to seven, with six of the Directors being independent.

"Kris is a strong strategic and commercial leader in the pharmaceutical industry and she brings to pSivida a wealth of experience in commercializing and launching products," commented David J. Mazzo, Ph.D., Chairman of pSivida's Board of Directors.  "Her success will serve pSivida well as we prepare to launch Durasert™ three-year treatment for posterior segment uveitis in the U.S., and secure partnerships internationally."

"pSivida's strong track record of developing three FDA-approved sustained-release treatments for back-of-the-eye diseases is impressive and I am excited to be a part of its future success," commented Kris Peterson.  "I look forward to working with Nancy and the other Board members to ensure we penetrate the U.S. market with Durasert and to execute on pSivida's long term business objectives."

Ms. Peterson has over 30 years of healthcare industry experience.  At Valeritas, she was instrumental in evolving it from an early stage company to a fully commercial operation, following U.S. and EU approvals of its type-2 diabetes drug device. Prior to becoming the Company Group Chair at Johnson & Johnson, she served as the Executive Vice President for Johnson & Johnson's global strategic marketing organization. Prior to arriving at Johnson & Johnson, she spent a number of years at Biovail Corporation, where she held positions as Senior Vice President, Commercial Operations and President. Ms. Peterson began her career at Bristol-Myers Squibb, where for 20 years she held many positions in marketing, sales, and general management, and was also in charge of the cardiovascular/metabolic business unit and generics division. In addition to joining pSivida's Board, Ms. Peterson currently serves on other corporate and advisory boards., including Paratek Pharmaceuticals, Inc., a biopharmaceutical company focused on the development and commercialization of innovative therapies based upon its expertise in novel tetracycline chemistry. 

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