pSivida Announces an Evaluation Agreement with Hospital for Special Surgery To Investigate Bioerodible Sustained Release Systems in Orthopedic Surgery

MarketWatch.com—August 16, 2011

Drug delivery company pSivida Corp. (asx:PVA) today announced it has entered into an evaluation agreement with Hospital for Special Surgery (HSS), a world leader in orthopedics, rheumatology and rehabilitation, to investigate pSivida's drug delivery technologies in orthopedics.

This agreement follows pSivida's announcement in June that it has renegotiated its collaboration agreement with Pfizer to focus solely on developing a bioerodible sustained release implant for glaucoma and ocular hypertension. (This program is already in clinical trials).

"We believe this orthopedic evaluation agreement is important for pSivida as our drug delivery technology, originally developed for ophthalmology, is being investigated in broader areas of medicine," said Dr Paul Ashton, President and CEO of pSivida. "We are excited to be working with Hospital for Special Surgery because of their long history of innovation and research in orthopaedic surgery."