pSivida Corporation (ASX: PVA, NASDAQ: PSDV) will evaluate the use of its Durasert™ drug delivery technology in ophthalmology in partnership with U.S.-based ocular drug development company Neuron Systems.
The two companies entered an agreement to assess the use of pSivida’s technology as a delivery system for the treatment of dry age related macular degeneration (Dry AMD), a serious retinal disease that afflicts millions of patients worldwide and can lead to blindness.
There is currently no treatment on the market for Dry AMD, which affects more people than Wet AMD, a condition that affects less than 20% of the population with AMD and is well treated with products such as Genentech’s billion dollar Lucentis and Regeneron’s Eylea.
This is the second technology evaluation agreement pSivida has signed for its bioerodible Durasert technology since the company regained the rights to its intellectual property from Pfizer last year.
In November the company signed a funded technology evaluation agreement with a leading global pharmaceutical company.
Durasert™ is a fully bioerodible implantable delivery device system that is small enough to fit inside the barrel of a 25 gauge needle.
pSivida is using the technology to develop a long term sustained release implant of latanoprost, the most commonly prescribed agent for ocular hypertension and glaucoma.