BioSilicon evaluated for drug delivery

pSivida's UK operating subsidiary, pSiMedica Limited, has entered into an agreement with an undisclosed top five global pharmaceutical company to evaluate its proprietary BioSilicon technology for certain drug delivery applications.

The agreement covers the evaluation of BioSilicon for the controlled release of a number of selected compounds from injectable depot formulations intended for subcutaneous or intramuscular administration. The pharmaceutical company will fund the direct costs of the programme.

The staged evaluation programme for the selected compounds will be conducted by pSiMedica in consultation with the pharmaceutical company. There is the potential to extend the programme to additional compounds and endpoints. Updates will be provided on timing and endpoints following regular reviews during the 12 month period of the agreement.

pSivida's managing director Gavin Rezos said: 'We believe that this agreement will mark the first of a number of such programmes. We have recently appointed five PhD qualified staff to increase our capacity for both our internal and external collaborative drug delivery programmes. In 2005 we expect to be able to announce the signing of similar evaluation agreements as well as licensing agreements with other pharmaceutical, biotechnology and device companies for the use of BioSilicon in the delivery of therapeutic agents by different routes of administration. We expect to achieve initial licensing revenues before the end of 2005.'