pSivida in new CV drug delivery evaluation

US drug-delivery company pSivida has entered into a technology agreement to evaluate cardiovascular delivery of drugs using the firm's technologies.

This is pSivida's first cardiovascular application as the company is mostly known for its ocular drug delivery. This evaluation is being funded by an undisclosed large global medical device company. pSivida has received over $500,000 from the firm for this and preceding related evaluation agreements.

pSivida's lead development-stage product Medidur FA (to be marketed as Iluvien), is in pivotal Phase III trials treating diabetic macular edema, a potentially blinding disease that affects over one million people in the USA. Medidur is a tiny injectable device that delivers the drug fluocinolone acetonide, a corticosteroid, for up to three years after being injected into the vitreous of the eye. This program is fully funded by pSivida's partner Alimera Sciences, which is conducting the Phase III studies. The trials were fully enrolled over a year ago and filing for Food and Drug Administration approval is planned in early-2010 with two-year data.