pSivida Corp. has signed an agreement with a major global pharmaceutical company to develop two glaucoma drugs with pSivida's proprietary sustained-release technology. This agreement builds upon the positive results seen in preclinical studies demonstrating extended release of drug for up to 6 months utilizing pSivida’s proprietary technology. The terms of the partnership includes upfront payments to pSivida of $750,000 for initial development and potential additional payments totaling $200,000 if all subsequent development activities are conducted.
"A key focus for pSivida during 2017 is to expand the number of development collaboration agreements with other drug manufacturers and this is the second such agreement during 2017,” Nancy Lurker, President & CEO, said in a company news release. ”This agreement extends the strong working relationship between the two organizations. Glaucoma is one of the major causes of blindness and many patients are not compliant with administering the commonly prescribed treatment of daily drops. Our proprietary sustained release technology, combined with glaucoma drugs, has the potential to provide new dosing options for patients.”