pSivida Announces Pricing of $10.8 Million Offering of Common Stock

  pSivida Announces Pricing of $10.8 Million Offering of Common Stock

Business Wire

WATERTOWN, Mass. -- July 19, 2013

pSivida Corp. (Nasdaq: PSDV), a specialty pharmaceutical company that is a
leader in developing sustained release drugs for the treatment of
back-of-the-eye diseases, today announced that it has priced an underwritten
public offering of 3,494,550 shares of its common stock at a price to the
public of $3.10 per share, for gross proceeds of approximately $10.8 million.
All shares in the offering will be sold by pSivida. The offering is expected
to close on or about July 24, 2013, subject to the satisfaction of customary
closing conditions.

Ladenburg Thalmann & Co. Inc. is acting as the sole book-running manager of
the offering and MLV & Co. LLC is acting as co-manager for the offering.

A preliminary prospectus supplement and the prospectus relating to the
proposed offering were filed with the Securities and Exchange Commission
(SEC). The offering may be offered only by means of a prospectus, including a
prospectus supplement, forming a part of the effective registration statement.
Copies of the final prospectus supplement, when available, and the prospectus
relating to the proposed offering can be obtained at the SEC’s website at or from Ladenburg Thalmann & Co. Inc., 58 South Service
Road, Suite 160, Melville, New York 11747, Attention: George Mangione, (631)

This press release does not constitute an offer to sell or a solicitation of
an offer to buy the securities in the offering, nor shall there be any sale of
these securities in any jurisdiction in which an offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of such jurisdiction.

About pSivida Corp.

pSivida Corp., headquartered in Watertown, Massachusetts, develops tiny,
sustained release, drugs designed to be released at a controlled and steady
rate for months or years. pSivida is currently focused on treatment of chronic
diseases of the back of the eye utilizing its core technology systems,
Durasert™ and BioSilicon™. The injectable, sustained release micro-insert
ILUVIEN® for the treatment of chronic Diabetic Macular Edema (DME), licensed
to Alimera Sciences, Inc., has received marketing authorization in Austria,
France, Germany, Portugal, the U.K. and Spain and is awaiting authorization in
Italy. ILUVIEN for DME has not been approved in the US. pSivida has commenced
the first of two planned pivotal Phase III clinical trials for the treatment
of posterior uveitis with the same micro-insert as ILUVIEN for DME. An
investigator-sponsored clinical trial is ongoing for an injectable,
bioerodible micro-insert to treat glaucoma and ocular hypertension. pSivida’s
FDA-approved product, Retisert®, for the treatment of posterior uveitis, is
licensed to Bausch & Lomb. Other technologies under development by pSivida
include protein and antibody delivery systems in early clinical stages.

Forward-looking Statements

Various statements made in this release are forward-looking, and are
inherently subject to risks, uncertainties and potentially inaccurate
assumptions. All statements that address activities, events or developments
that pSivida intends, expects or believes may occur in the future are
forward-looking statements. The following are some of the factors that could
cause actual results to differ materially from the anticipated results or
other expectations expressed, anticipated or implied in pSivida’s
forward-looking statements, including uncertainties with respect to: our
ability to successfully complete the offering on terms satisfactory to us; the
possible adverse impact of the offering on the market price of our shares of
common stock; the initiation, financing and success of Phase III posterior
uveitis trials, including efficacy, side effects and risk/benefit profile of
the posterior uveitis micro-insert; Alimera’s ability to finance, achieve
additional marketing approvals, successfully commercialize and achieve market
acceptance of, and generate revenues to pSivida from, ILUVIEN for DME in the
EU; the outcome of reimbursement for ILUVIEN in the U.K., Alimera’s
resubmission of its NDA for ILUVIEN for DME and its ability to obtain
regulatory approval for, and if approved, to finance, successfully
commercialize and achieve market acceptance of, and generate revenues to
pSivida from, ILUVIEN for DME in the U.S.; initiation, financing and success
of Latanoprost Product Phase II trials and exercise by Pfizer, Inc. of its
option to license the worldwide development and commercialization of the
Latanoprost Product for the treatment of human ophthalmic disease or
conditions other than uveitis; development of products using Tethadur and
BioSilicon; initiation and completion of clinical trials and obtaining
regulatory approval of product candidates; adverse side effects; ability to
attain profitability; pSivida’s ability to obtain additional capital; further
impairment of intangible assets; fluctuations in operating results; a decline
in royalty revenues; pSivida’s ability to, and to find partners to, develop
and market products; termination of license agreements; competition and other
developments affecting sales of products; market acceptance; protection of
intellectual property and avoiding intellectual property infringement;
retention of key personnel; product liability; consolidation in the
pharmaceutical and biotechnology industries; compliance with environmental
laws; manufacturing risks; risks and costs of international business
operations; credit and financial market conditions; legislative or regulatory
changes; volatility of stock price; possible dilution; possible influence by
Pfizer, Inc.; an absence of dividends; and other factors described in
pSivida’s filings with the SEC. Given these uncertainties, readers are
cautioned not to place undue reliance on such forward-looking statements.
pSivida’s forward-looking statements speak only as of the dates on which they
were made. Except as required by law, pSivida does not undertake any
obligation to publicly update or revise its forward-looking statements, even
if experience or future changes makes it clear that any projected results
expressed or implied in such statements will not be realized.


Martin E. Janis & Company, Inc.
Beverly Jedynak, President
312-943-1123; 773-350-5793 (cell)
pSivida Corp.
Brian Leedman, Vice President, Investor Relations
+61 (0) 41 228 1780
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