pSivida subsidiary strikes distribution agreement

THE ROADHOUSE PHARMACY: pSivida Corp. (ASX: PVA), a company that specialises in the development of sustained release, drug delivery products for treating eye diseases, announced that its licensee Alimera Sciences has signed an exclusive agreement with Specialised Therapeutics Australia (STA).

The agreement is for the distribution in Australia and New Zealand of ILUVIEN® for the treatment of diabetic macular edema (DME).

pSivida explained that under the agreement, STA will be responsible for all regulatory and commercial activities for ILUVIEN in those countries.

The agreement between Alimera and STA will include a milestone payment to Alimera for achievement of a public reimbursement listing, and royalties based on net sales that will increase if a sales target is met.

pSivida is entitled to 20 per cent of royalties and 33 per cent of all other payments received by Alimera, including milestones.

“We are pleased to see this agreement for the commercialisation of ILUVIEN for DME in Australia and New Zealand and the potential for patients in those countries suffering from chronic DME to be treated with ILUVIEN,” pSivida president and CEO Dr. Paul Ashton said in the company’s announcement to the Australian Securities Exchange.

pSivida described STA to be a biopharmaceutical company dedicated to working with leading biotechnology and pharmaceutical companies worldwide to make specialised therapies available to people living in Australia and New Zealand.

The STA therapeutic portfolio and pipeline currently encompasses oncology, hematology, ophthalmology and infectious diseases.

STA also has interests in the therapeutic areas of respiratory, dermatology, endocrinology and central nervous system.

Website: www.psivida.com