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Leading Retinal Specialists To Highlight pSivida (PSDV)’s Durasert For Treatment Of Posterior Segment Uveitis At Prestigious Ophthalmology Conferences



7/18/2017 10:44:36 AM

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WATERTOWN, Mass., July 18, 2017 (GLOBE NEWSWIRE) -- pSivida Corp. (NASDAQ:PSDV) (ASX:PVA), a leader in the development of sustained release drug products and technologies, today announced that three abstracts supporting the Company’s Durasert™ three-year treatment for posterior segment uveitis have been accepted at leading Ophthalmology conferences.

  • American Society of Retinal Specialists (ASRS) annual meeting being held in Boston, MA from August 11-15, 2017. The abstract accepted for paper presentation is titled,An Injectable Fluocinolone Acetonide Intravitreal Insert is Effective in Patients With Noninfectious Posterior Segment Uveitis.” The data will be presented by Dr. David Callanan, MD., a leading ophthalmologist with Texas Retina Associates, Sunday, August 13th, at 5:30-6:30pm ET.
  • 17th EURETINA Congress being held in Barcelona, Spain from September 7-10, 2017. The abstract accepted for paper presentation is titled, “An injectable fluocinolone acetonide intravitreal insert in patients with chronic non-infectious uveitis affecting the posterior segment of the eye: Effects on macular oedema at 6 months.” The data will be presented by Dr. Carlos Pavesio, MD, Consultant Ophthalmic Surgeon, Moorfields Eye Hospital, on September 8th at 12:18pm local time (6:18am ET).
  • American Academy of Ophthalmology (AAO) annual meeting being held in New Orleans, LA from November 11-14, 2017. The abstract accepted for paper presentation is titled, “Fluocinolone Acetonide Intravitreal Insert in Noninfectious, Posterior Segment Uveitis: Twelve-Month Safety Results.” The data will be presented by Dr. Careen Yen Lowder MD PhD, currently works in Cleveland Clinic, Cole Eye Institute.

“These acceptances clearly demonstrate the depth of our science and high level of interest from the ophthalmic community,” commented Nancy Lurker, President and Chief Executive Officer. “Having our data presented at these conferences, by three leading authorities on uveitis is impressive and important as we prepare to submit and launch Durasert in the US and with our partner Alimera in the EU, Middle East and Africa.”

In each of pSivida's two Phase 3 trials for its Durasert three-year uveitis treatment, the primary efficacy endpoint was successfully achieved at six months with a p value < 0.001. In addition, the safety profile of patients treated with Durasert three-year uveitis treatment was consistent to the safety profile of existing steroid uveitis treatments, which are considered standard of care for this disease. The Company recently announced it granted Alimera Sciences rights to Durasert three-year treatment for posterior segment uveitis in Europe, the Middle East and Africa (EMEA) where it will market Durasert under the ILUVIEN trademark The Company anticipates filing a New Drug Application (NDA) with the US Food and Drug Administration (FDA) later this year and it plans to commercialize Durasert in the US market.

About Posterior Segment Uveitis

Posterior segment uveitis is a chronic, non-infectious inflammatory disease affecting the posterior segment of the eye, often involving the retina, which is believed to be a leading cause of blindness in the developed and developing countries. It affects people of all ages, producing swelling and destroying eye tissues, which can lead to severe vision loss and blindness. In the U.S. and EU, posterior uveitis affects approximately 200,000 people, annually. Today, patients with posterior uveitis are typically treated with systemic steroids, but over time frequently develop serious side effects that can limit effective dosing. Patients then often progress to steroid-sparing therapy with systemic immune suppressants or biologics, which themselves can have severe side effects including an increased risk of cancer.

About pSivida Corp.
pSivida Corp. (www.psivida.com), headquartered in Watertown, MA, is a leader in the development of sustained-release drug products for treating eye diseases. pSivida has developed three of only four FDA-approved sustained-release treatments for back-of-the-eye diseases. The most recent, ILUVIEN®, a micro-insert for diabetic macular edema, licensed to Alimera Sciences, Inc. is currently sold directly in the U.S. and three EU countries. Retisert®, an implant for posterior uveitis, is licensed to and sold by Bausch & Lomb Inc. pSivida's lead product candidate, Durasert™ micro-insert for posterior segment uveitis is being independently developed. Two pivotal Phase 3 clinical trials achieved their primary efficacy endpoint at six months of follow-up with statistical significance. pSivida's pre-clinical development program is focused on using its core platform technology, Durasert, to deliver drugs to treat wet age-related macular degeneration, glaucoma, osteoarthritis and other diseases. To learn more about pSivida please visit www.psivida.com and connect on Twitter, LinkedIn, Facebook and Google+.

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. 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 include uncertainties with respect to: our ability to achieve profitable operations and access to needed capital; fluctuations in our operating results; further impairment of our intangible assets; successful commercialization of, and receipt of revenues from, ILUVIEN® for diabetic macular edema (“ILUVIEN”), which depends on Alimera’s ability to continue as a going concern and the effect of pricing and reimbursement decisions on sales of ILUVIEN; safety and efficacy results of the second Durasert three-year uveitis Phase 3 clinical trial and the number of clinical trials and data required for the Durasert three-year uveitis marketing approval applications in the U.S. and EU; our ability to file and the timing of filing and acceptance of the Durasert three-year uveitis marketing approval applications in the U.S. and EU; our ability to use data in a U.S. NDA from clinical trials outside the U.S.; maintenance of European orphan designation for Durasert three-year uveitis; our ability to successfully commercialize Durasert three-year uveitis, if approved; the outcome of a dispute with Alimera regarding commercialization expenses; potential off-label sales of ILUVIEN for uveitis; consequences of fluocinolone acetonide side effects; potential declines in Retisert® royalties; our ability to develop Tethadur to successfully deliver large biologic molecules and develop products using it; efficacy and our future development of an implant to treat severe osteoarthritis; our ability to successfully develop product candidates, initiate and complete clinical trials and receive regulatory approvals; our ability to market and sell products; the success of current and future license agreements; termination or breach of current license agreements; our dependence on contract research organizations, vendors and investigators; effects of competition and other developments affecting sales of products; market acceptance of products; effects of guidelines, recommendations and studies; protection of intellectual property and avoiding intellectual property infringement; retention of key personnel; product liability; industry consolidation; compliance with environmental laws; manufacturing risks; risks and costs of international business operations; effects of the potential U.K. exit from the EU; legislative or regulatory changes; volatility of stock price; possible dilution; absence of dividends; and other factors described in our filings with the Securities and Exchange Commission. You should read and interpret any forward-looking statements in light of these risks. 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. You should bear this in mind as you consider any 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.

Contact: EVC Group Michael Polyviou/Doug Sherk – Investors mpolyviou@evcgroup.com; dsherk@evcgroup.com 212.850.6020; 646-445-4800 Thomas Gibson – Media tom@tomgibsoncommunications.com 201-476-0322

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