BOSTON & PERTH, Australia--(BUSINESS WIRE)--Sept. 19, 2006--Global bio-nanotech company pSivida Limited (NASDAQ:PSDV) (ASX:PSD) (Xetra:PSI) today announced the initiation of a Phase II clinical trial of Mifepristone (otherwise known as RU486) as an eye drop treatment for steroid associated elevated intraocular pressure (IOP).