pSivida Presents Preclinical Data Demonstrating Sustained Release of Avastin Using Tethadur at ARVO Annual Meeting

  pSivida Presents Preclinical Data Demonstrating Sustained Release of Avastin
  Using Tethadur at ARVO Annual Meeting

ARVO 2014

Business Wire

WATERTOWN, Mass. -- May 5, 2014

pSivida Corp. (NASDAQ: PSDV) (ASX: PVA), a leader in the development of
sustained release products for treating eye diseases, today announced that the
Company presented the first peer-reviewed preclinical data demonstrating the
use of pSivida’s Tethadur™ technology to provide sustained release of Avastin
at the 14^th Annual Meeting of ARVO (Association for Research in Vision and

pSivida’s Dinesh K. Nadarassan presented a poster entitled “Sustained Release
of Bevacizumab (Avastin) from BioSilicon”. The data from preclinical studies
conducted by pSivida concluded that long-term sustained release of antibodies
such as Avastin is achievable with Tethadur, a form of pSivida’s BioSilicon™
technology, and that the release of the antibodies is controllable over a wide
range by adjusting the pore size and surface area of Tethadur.

“The implications of the ability to control the duration of sustained delivery
of antibodies through pore size are significant,” said Dr. Paul Ashton,
president and chief executive officer of pSivida. “By varying pore size, we
believe the release rate of antibodies loaded into Tethadur can be controlled,
which could permit sustained delivery of antibodies that currently must be
delivered by frequent injections. For example, Avastin and the two of the
top-selling Veg-F ophthalmic drugs today are injected as frequently as once a

pSivida’s Tethadur, an application of BioSilicon technology, is designed to
provide sustained delivery of large biologic molecules, including peptides,
proteins and antibodies. BioSilicon technology utilizes a fully-erodible,
honeycomb structure of nano-porous, elemental silicon to provide sustained
delivery of therapeutics. The study evaluated the effect of pore size in
Tethadur on Avastin release over a period of three weeks.

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 technologies,
Durasert™ and 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. Alimera is seeking FDA approval for ILUVIEN for DME in
the US. pSivida has commenced a Phase III clinical trial of Medidur™ for the
treatment of posterior uveitis, a chronic back-of-the-eye disease, which uses
the same micro-insert as ILUVIEN. 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.

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: ability of BioSilicon and Tethadur
to successfully deliver proteins, peptides and other large biologic molecules
on a sustained basis; 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.; 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; 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 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

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Martin E. Janis & Company, Inc.
Beverly Jedynak, President
+1 312.943.1123
M: +1 773.350.5793
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