BOSTON & PERTH, Australia--(BUSINESS WIRE)--pSivida Limited (NASDAQ:PSDV)(ASX:PSD)(Xetra:PSI), today announced the private placement of 40,957,050 million fully paid ordinary shares issued at A$0.2695 each to raise approximately A$11 million (US$9 million at current exchange rates) before costs to United States and European investors. Each two shares will be issued with one free attaching option at an exercise price of A$0.2695 and a term of four years. The issue price was equal to the five day volume weighted average closing price of pSivida’s ordinary shares on the ASX through March 30, 2007, which was the last trading day prior to the closing of the recently announced exclusive worldwide Collaborative Research and License Agreement with Pfizer Inc. for pSivida’s controlled drug delivery technologies including the Medidur™ technology in ophthalmic applications.
