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Australia's pSivida Limited (PSD.AX) To Buy U.S. Drug Delivery Firm For About $104 Million


10/19/2005 5:11:39 PM

Global bio-nanotech company pSivida Limited (NASDAQ:PSDV, ASX:PSD, Xetra:PSI) today announced that it has entered into a definitive merger agreement to acquire Control Delivery Systems, Inc. ("CDS"), a private U.S. drug delivery company located in the Boston, Massachusetts area. The acquisition is expected to close in the fourth quarter of 2005 and is subject to Australian regulatory and pSivida shareholder approvals, as well as other customary closing conditions.

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