pSivida Limited has announced that its wholly owned subsidiary pSivida Inc. (formerly Control Delivery Systems, Inc.) has recently entered into a number of new evaluation agreements with various companies including large global pharmaceutical companies, to evaluate pSivida’s proprietary platform technology for their developmental compounds.
The terms of the evaluation agreements vary, but are typically 12 months in duration with the costs being borne by the counterparty.
With these agreements, pSivida Limited now has evaluation agreements with three of the five largest pharmaceutical companies in the world.
In December 2005, pSivida completed the acquisition of Control Delivery Systems, a private US drug delivery company located in the Boston, Massachusetts area.
Control Delivery Systems in collaboration with Alimera Sciences initiated a Phase III clinical trial in October 2005 to study diabetic macular edema (DME) patients treated using its Medidur™ platform technology to deliver fluocinolone acetonide.
Medidur™ is the next generation product to Retisert™ which is administered in a surgical procedure and licensed to Bausch & Lomb for the treatment of chronic, non-infectious uveitis, a sight threatening inflammatory eye disease affecting approximately 175,000 people in the US.
"We believe these new evaluation agreements come at a time when the ophthalmology market is growing strongly and are a reflection of growing interest in pSivida's technologies," said Mr Gavin Rezos, MD and CEO of pSivida Limited.
"We expect to enter into further agreements for pSivida’s drug delivery products in 2006."