pSivida (NASDAQ:PSDV; ASX:PVA) has announced that it has signed two funded technology evaluation agreements with a leading global pharmaceutical company.
pSivida is the developer of sustained release, drug delivery products for treating eye diseases. It recently announced the US launch of ILUVIEN for diabetic macular edema (DME), under a licensing agreement with Alimera Sciences.
The new agreements will evaluate the use of the company's DURASERT technology to deliver a specific compound to treat a significant ophthalmic disease.
"We are very pleased to be working with this leading global pharmaceutical company," said Dr Paul Ashton, president and CEO of pSivida.
The identity of the global pharmaceutical company was not released.
"Our strategy includes partnering product development with market leaders in appropriate circumstances, allowing us to expand our reach beyond our own product development. This opportunity fits that criteria, and we are excited about the potential products," he said.