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pSivida Reports ILUVIEN® to Be Funded by UK’s National Health Service for Treatment of Pseudophakic Chronic DME Patients

  pSivida Reports ILUVIEN® to Be Funded by UK’s National Health Service for
  Treatment of Pseudophakic Chronic DME Patients Following Issuance of Final
  NICE Guidance

Business Wire

WATERTOWN, Mass. -- December 2, 2013

pSivida Corp. (NASDAQ: PSDV) (ASX: PVA), a leader in the development of
sustained release, drug delivery products for treating eye diseases, today
announced that on November 27, 2013, the United Kingdom’s National Institute
for Health and Care Excellence (NICE) published final guidance recommending
ILUVIEN^® as a treatment option for pseudophakic patients (those who have had
cataract surgery) with chronic Diabetic Macular Edema (DME) insufficiently
responsive to available therapies, subject to a patient access scheme. NICE
requires clinical commissioning groups, the National Health Service England
and local public health authorities to comply with the recommendation in the
final guidance within three months of its date of publication.

“We are very pleased with NICE’s recommendation, which is a key step in the
availability of ILUVIEN for this typically large subgroup of chronic DME
patients,” said Dr. Paul Ashton, president and chief executive officer of
pSivida.

pSivida’s licensee Alimera Sciences reported that it is communicating closely
with retinal specialists, hospital pharmacists and commissioners throughout
the United Kingdom with the goal of making ILUVIEN available to suitable
patients as quickly as possible.

About pSivida Corp.

pSivida Corp., headquartered in Watertown, MA, develops tiny, sustained
release, drug delivery products designed to deliver drugs 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™, including Tethadur™. The injectable, sustained
release micro-insert ILUVIEN® for the treatment of chronic DME considered
insufficiently responsive to available therapies, licensed to Alimera
Sciences, Inc., is marketed in the U.K. and Germany and has also received
marketing authorization in Austria, France, Portugal, and Spain and is
awaiting authorization in Italy. Alimera has filed for ten additional EU
country approvals through the Mutual Recognition Procedure. pSivida has
instituted the first of two planned pivotal Phase III clinical trials for
Medidur™ for the treatment of posterior uveitis, a chronic back-of-the-eye
disease. An investigator-sponsored clinical trial is ongoing for an
injectable, bioerodible micro-insert to treat glaucoma and ocular
hypertension, a product candidate on which Pfizer Inc. has an option.
pSivida's FDA-approved Retisert®, licensed to Bausch & Lomb Incorporated,
provides long-term, sustained drug delivery to treat posterior uveitis.

SAFE HARBOR STATEMENTS UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: 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 we intend, expect or believe 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 our forward-looking
statements: uncertainties with respect to: Alimera's ability to finance,
achieve additional marketing approvals, obtain adequate pricing and
reimbursement for, successfully commercialize and achieve market acceptance
of, and generate revenues to pSivida from, ILUVIEN for DME in the EU;
Alimera's 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.; the ability to
finance, complete and achieve a successful outcome for Phase III trials for,
and file and achieve marketing approvals for, Medidur for posterior uveitis,
including achieving acceptable risk-to-benefit and safety profiles in light of
the CRL for ILUVIEN; initiation, financing and success of Latanoprost Product
Phase II trials and any exercise by Pfizer of its option; ability of Tethadur
to successfully deliver proteins, peptides and other large biologic molecules;
ability to develop product candidates and products and potential related
collaborations; initiation and completion of clinical trials and obtaining
regulatory approval of product candidates; continued sales of Retisert;
adverse side effects; ability to attain profitability; ability to obtain
additional capital; further impairment of intangible assets; fluctuations in
operating results; decline in royalty income; 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; absence of
dividends; and other factors described in our filings with the SEC. Given
these uncertainties, readers are cautioned not to place undue reliance on such
forward-looking statements. Should known or unknown risks materialize, or
should underlying assumptions prove inaccurate, actual results could differ
materially from past results and those anticipated, estimated or projected in
the forward-looking statements. Our forward-looking statements speak only as
of the dates on which they are made. We do not undertake any obligation to
publicly update or revise our 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.

Follow pSivida on social media:

Twitter: https://twitter.com/pSividaCorp

Facebook: https://www.facebook.com/pages/PSivida-Corp/544893792199562

LinkedIn: http://www.linkedin.com/company/psivida

Google+:
https://plus.google.com/u/0/b/113754643626984244726/113754643626984244726/posts

The President's Blog: http://www.thechairmansblog.com/paul-ashton

For more information on pSivida, visit www.psivida.com.

Contact:

In US:
Martin E. Janis & Company, Inc.
Beverly Jedynak, +1 312-943-1123
M: +1 773-350-5793
President
bjedynak@janispr.com
or
In Australia:
pSivida Corp.
Brian Leedman, +61 (0) 41 228 1780
Vice President, Investor Relations
brianl@psivida.com