PSD psivida limited

psivida receives first rd payments from pfizer

  1. 9,241 Posts.
    ASX/Media RELEASE 20 February 2008
    pSivida receives first R&D payments from Pfizer
    Boston, MA and Perth, Australia (February 20, 2008) – pSivida Limited (NASDAQ:PSDV,
    ASX:PSD, Xetra:PSI) today announced the receipt of US$500k as the first quarterly research and
    development payment from Pfizer under the terms of the exclusive worldwide Collaborative
    Research and License Agreement signed in April 2007 for pSivida’s controlled drug delivery
    technologies in ophthalmic applications.
    Over the last 10 months pSivida has received US$12m from Pfizer, including equity investments,
    under the terms of that agreement and will receive up to an additional US$153.5m in development
    and sales related milestones. Pfizer is the largest shareholder in Company holding approximately
    10% of the outstanding shares.
    “We are very pleased that the Pfizer licensing agreement is proceeding as expected,” said
    pSivida’s Managing Director, Dr Paul Ashton.
    -ENDSReleased
    by:
    pSivida Limited
    Brian Leedman
    Vice President, Investor Relations
    pSivida Limited
    Tel: + 61 (0) 412 281 780
    [email protected]
    US Public Relations
    Beverly Jedynak
    President
    Martin E. Janis & Company, Inc
    Tel: +1 (312) 943 1100 ext. 12
    [email protected]
    European Public Relations
    Eva Reuter
    Accent Marketing Limited
    Tel: +49 (254) 393 0740
    [email protected]
    -2-
 
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