Press Release Source: pSivida Corp. On Wednesday April 7, 2010, 10:00 am EDT
WATERTOWN, Mass.--(BUSINESS WIRE)--pSivida Corp. (NASDAQ:PSDV - News) (ASX:PVA - News), a leader in the development of ophthalmic sustained release drug delivery products, today said that a recently-published peer reviewed scientific paper
showed that a sustained release Durasert drug delivery device releasing the steroid fluocinolone acetonide (FA) in the back of the eye preserved retinal function in a retinitis pigmentosa model.
Dr. Paul Ashton, CEO of pSivida Corp., who co authored the paper with Inna V. Glymbia, Alexander Kennedy and Gary Abrams of Wayne State University, Kresge Eye Institute in Detroit and Raymond Iezzi of the Mayo Clinic in Rochester, used pSivida’s Durasert technology to study the neuroprotective properties of low-dose sustained-release intravitreous FA as a means of reducing retinal neuroinflammation, preventing cell death and preserving retinal function.
Retinitis pigmentosa is a hereditary condition that affects approximately 100,000 individuals in the US. There is presently no known cure or effective treatment for the condition, which causes gradual loss of peripheral vision and night vision and eventually most individuals become legally blind.
“This is very encouraging,” said Dr. Ashton, “and we intend to pursue further studies using our technologies for the treatment of eye diseases for which there currently are very few effective treatments.” pSivida has developed two of the only three FDA approved ophthalmic sustained release drug delivery products, Retisert® for the treatment of posterior uveitis and Vitrasert® for the treatment of Aids-related CMV retinitis, both of which are licensed to Bausch & Lomb.
The company’s third product, Iluvien® for the treatment of diabetic macular edema is licensed to Alimera Sciences which is conducting Phase III fully recruited trials and expects to submit a New Drug Application to the FDA in the second quarter of this year. If approved, Iluvien will be the first FDA approved drug for the treatment of DME.
The abstract is available online at:
iovs.org
About pSivida Corp.
pSivida is a world leader in the development of tiny, sustained release, drug delivery products that are administered by implantation, injection or insertion. pSivida’s lead development product delivers fluocinolone acetonide (FA) for the treatment of diabetic macular edema (DME). This product candidate, formerly known as Medidur™ FA for DME, is licensed to Alimera, which is conducting fully-recruited Phase III clinical trials and intends to commercialize the product under the name Iluvien®. pSivida also has two products approved by the Food and Drug Administration (FDA): Retisert® for the treatment of posterior uveitis and Vitrasert® for the treatment of AIDS-related cytomegalovirus (CMV) retinitis. pSivida has licensed both of these products and the technologies underlying them to Bausch & Lomb Incorporated. pSivida has a worldwide collaborative research and license agreement with Pfizer Inc. under which Pfizer may develop additional ophthalmic products.
pSivida owns the rights to develop and commercialize a modified form of silicon known as BioSilicon™, which has potential therapeutic applications. The most advanced BioSilicon product candidate, BrachySil™, delivers a therapeutic P32, a radioactive form of phosphorus used to treat cancer, directly to solid tumors. pSivida conducted an initial safety clinical trial of BrachySil for the treatment of pancreatic cancer and in October 2009 completed a follow-on dose-ranging clinical trial.
pSivida’s intellectual property portfolio consists of 62 patent families, over 100 granted patents, including patents accepted for issuance, and over 200 patent applications. pSivida conducts its operations from Boston in the United States and Malvern in the United Kingdom.
Contact:
In US: Beverly Jedynak, President, Martin E. Janis & Co., Inc.312-943-1123bjedynak@janispr.comorIn Australia:Brian Leedman, Vice President, Investor Relations, pSivida Corp.+61 8 9227 8327
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