Another pharma evaluating pSivida’s Durasert

pSivida (ASX:PVA) shares got a bump after the company revealed a new pharmaceutical company is evaluating its Durasert ophthalmic implant technology.

The company, which pSivida did not name, has signed a funded evaluation agreement covering exploring using Durasert for some of its ophthalmology products.

Durasert is a sustained targeted drug delivery technology designed to be implanted into the back of the eye.

“I am very pleased to be entering into a technology assessment agreement in ophthalmology with another global pharmaceutical company,” pSivida CEO Dr Paul Ashton said.

“We are transitioning into a specialty pharma company developing our own products, while continually looking for ways to use our technology platforms to develop new products. Technology agreements such as this enable us work with major companies, further expanding our reach.”

An agreement would build on pSivida’s licensing agreement with Alimera Sciences for the insert used in Iluvien - a diabetic macular edema (DME) treatment awaiting approval by the US FDA - and its collaboration agreement with Pfizer to develop an injectable product for glaucoma and ocular hypertension.

pSivida is independently developing a product using the same insert found in Iluvien to treat posterior uveitis.

pSivida shares were trading 4.69% higher at $3.35 as of around 1.30 pm on Thursday.