pSivida Corp. Reports First Orders for ILUVIEN® Shipped for U.K. National Health Service Hospitals Less Than Seven Weeks After

  pSivida Corp. Reports First Orders for ILUVIEN® Shipped for U.K. National
  Health Service Hospitals Less Than Seven Weeks After Final NICE Guidance

                First NHS patient treated on January 10, 2014

Business Wire

WATERTOWN, Mass. -- January 13, 2014

pSivida Corp. (NASDAQ: PSDV) (ASX: PVA), a leader in the development of
sustained release, drug delivery products for treating eye diseases, today
announced that its licensee Alimera Sciences has shipped initial orders of
ILUVIEN® to several U.K. National Health Service (NHS) facilities and the
first NHS patient has received ILUVIEN for the treatment of chronic diabetic
macular edema (DME) insufficiently responsive to available therapies.

“We are encouraged by the speed with which ILUVIEN has been made available to
NHS facilities. These recent ILUVIEN orders reflect the rapid implementation
of the final guidance from U.K.’s National Institute for Health and Care
Excellence (NICE) recommending ILUVIEN for certain patients with chronic DME,”
said Paul Ashton, Ph.D., President and CEO of pSivida. “Many chronic DME
patients fail to respond to conventional therapies, continuing to lose vision
and facing blindness. ILUVIEN has been shown to stem and even reverse vision
loss for many of these patients. pSivida will be entitled to 20% of net
profits (as defined) on sales of ILUVIEN for DME by Alimera in the U.K.”

On November 27, 2013, NICE published final guidance recommending ILUVIEN as a
treatment option for pseudophakic patients (those who have had cataract
surgery) with chronic DME insufficiently responsive to available therapies,
subject to a patient access scheme. NICE requires clinical commissioning
groups, NHS England and local public health authorities to comply with the
recommendations in the final guidance within three months of its date of
publication. Alimera reported its belief that the speed at which ILUVIEN has
been made available at certain NHS facilities is indicative of the unmet need
in this chronic DME patient population.

Additionally, Alimera reported that on January 10, 2014, the first NHS patient
was treated with ILUVIEN, following the first treatments for private pay and
insurance patients in the U.K. in 2013.

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™. pSivida has instituted the
first of two planned pivotal Phase III clinical trials for its lead
development product, Medidur™, an injectable, sustained release micro-insert
for the treatment of posterior uveitis, a chronic back-of-the-eye disease.
ILUVIEN® for the treatment of chronic DME considered insufficiently responsive
to available therapies, which uses the same micro-insert as Medidur and is
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 is seeking approval of ILUVIEN in the U.S. 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

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.

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