WATERTOWN, Mass.--(BUSINESS WIRE)-- pSivida Corp. (NASDAQ:PSDV - News)(ASX:PVA.ax - News), a leader in the development of sustained release drug delivery products for the treatment of back of the eye disease including the product candidate Iluvien™ for the treatment of Diabetic Macular Edema, today announced that it ranked 15th on the 2010 Deloitte Technology Fast 500™. Deloitte ranked the top 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America based on the percentage of fiscal year revenue growth during the period from 2005-2009.
According to Deloitte & Touche’s rankings, pSivida’s revenue grew 9,869 percent during this period, primarily reflecting revenues related to the Company’s collaboration with Bausch & Lomb resulting in the FDA approval of Retisert® in 2005 (the first FDA approved drug for uveitis), the Company’s collaboration agreement with Pfizer in 2007 and the Company’s amended license agreement with Alimera Sciences relating to Iluvien. Paul Ashton, Ph.D., President and Chief Executive Officer of pSivida, commented, “This is a great achievement for pSivida and follows on the heels of our inclusion in the Russell Microcap Index earlier this year. Our ranking reflects only our revenue growth through fiscal 2009. Our strong revenue growth continued in fiscal 2010 in which our revenue increased 90% over the prior year.”
Technology Fast 500™ award winners for 2010 had revenue growth ranging from 146 percent to 164,079 percent from fiscal years 2005 to 2009, with an average growth of 2,361 percent.
Selection and Qualifiying Criteria
Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2005 to 2009.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year reporting revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America. |
