pSivida: Out-licensing of BioSiliconTM to PureTech Development LLC

03-Mar-2005

Global nanotechnology company pSivida Limited announced that it has signed an agreement with US based PureTech Development LLC ("Puretech") to investigate and evaluate out-licensing opportunities for BioSiliconTM with an emphasis on tissue engineering, wound management and orthopedics.

Through a range of collaborative partnerships and internal R&D over the last four years, pSivida has developed the BioSiliconTM (nano-structured porous elemental silicon) technology platform in non-core areas such as tissue engineering, wound management and orthopedics to a point where it is in a position and in line with the Company's broader commercialization strategy, to seek suitable partners in these specialist areas of healthcare.

pSivida has commissioned PureTech to explore with suitable partners, arrangements for evaluating the potential of BioSiliconTM in their areas of expertise and such partnerships would be expected to produce, in due course, revenue in the form of upfront and milestone payments as BioSiliconTM based products are developed and commercialized.

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