PSD psivida limited

Announcement

  1. 762 Posts.
    ASX MEDiA RELEASE 30 April 2002
    NOTICE OF ALLOWANCE FOR BIOSILICONTM
    PATENT RECEIVED IN THE USA
    Australianbiotechnology company pSivida Limited (ASX: PSD) today announced that its operating subsidiary pSiMedica has received a Notice of Allowance’ for the patent relating to a collaboration agreement with Purdue
    University, Indiana, in the United States. The Notice, for ‘Patent NumberUS 09/71 661 4 Functionatised Silicon Surfaces’,relates to the “forming of a covalently bound monolayer of organic substituents on
    porous silicon”, which in simple terms means the derivatisation of nano-structured porous silicon, known as BioSiticonTM, to allow for the attachment of a number of organicmolecules.Thus allowing the attachment of avariety of useful drugs or biological molecules to BioSiticonTM and further expanding the versatility of this unique biomaterial.
    This patent follows the granting of the broader biomateriats patents for BioSilicon TM in the United Kingdom and USA (US6322895) and extends pSiMedica’s claims for the technology.
    The Notice adds further value to the Company’s intellectual property portfolio which includes filed applications for a wide range of products comprising BioSiticont”, and supports the execution of the Company’s intellectual property strategy. Products protected by the pSiMedica patents and patent applications include materials comprising bioactive, resorbable and biocompatible silicon that will be the key component in the fabrication of next generation ‘smart’ drug delivery devices, orthopaedic implants and intelligent diagnostic tools. pSiMedica CEO andpSividaCommercialisationandResearchDirector,Dr Roger Aston,said the Notice of Allowance for granting this US patent represented a significant step forward for the Company.
    “This announcement bolsters our collaboration with Purdue University and pSivida’s ability to negotiatefromaposition of strength with larger biotechnology and pharmaceutical companies within our program of commercialisation and development of the 8ioSiliconTM technology,” he said. pSivida Managing Director, Mr Gavin Rems, added that the Notice of Allowance will increase the level of awareness in the US biotechnology market of BioSiticonTM and its multiple applications.
    “This Notice will significantly assist in developing opportunities with US-based biotechnology companies and institutions,” he said, “And couldn’t have come at a
    better time given the number of major presentations we will be making during June, including 6102002, in Toronto, and the Pacific Rim Science Innovation Summit, in Beijing.”


    This one needs some good news as it is sinking fast. Looking to reenter when things pick up.
 
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