Company evaluating pSivida eye drug insert tech

pSivida (ASX:PVA) has revealed that another pharmaceutical company is evaluating using its ophthalmic drug delivery technologies for its products.

pSivida and the pharmaceutical company have signed an evaluation agreement covering the former’s Durasert and Tethadur implantable drug delivery technologies. The Durasert technology involves providing sustained-release doses of a drug to a target site over a prolonged period, while Tethadur delivers proteins, peptides and antibodies.

pSivida has not yet named the pharmaceutical company evaluating its technologies to deliver its ophthalmic drugs, but the agreement builds on pSivida’s existing marketing partnership with Alimera. pSivida has licensed its injectable micro-insert Iluvien to Alimera as a treatment for diabetic macular edema (DME).

Alimera has secured approval for the product in several European countries and is now preparing to resubmit an application with the US FDA. The first application was rejected in late 2011, with the agency demanding more clinical trials.

pSivida is also using the same insert to develop a treatment for posterior uveitis and is working with Pfizer on an injectable, bio-erodible product to treat glaucoma and ocular hypertension.

pSivida shares were trading unchanged at $2.15 as of around 2.30 pm on Friday.