WATERTOWN, Mass.--(BUSINESS WIRE)--
pSivida Corp. (NASDAQ: PSDV) (ASX: PVA), a leader in developing
sustained release, drug delivery products for treatment of
back-of-the-eye diseases, announced today that it has elected James J.
Barry, Ph.D. to its Board of Directors.
Dr. Barry, age 55, currently serves as Executive Vice President and
Chief Operating Officer of InspireMD, a global medical device company
focused on the development and commercialization of cardiovascular
products. At InspireMD, Dr. Barry is responsible for advancing the
product pipeline, managing all global clinical trial activities and
driving the operational activities. He also serves as a director of
InspireMD. Prior to InspireMD, Dr. Barry served as the CEO of Arsenal
Medical, a venture-backed medical device company focused on hemostatis
and drug delivery. From 1992 to 2010, Dr. Barry's held various executive
positions at Boston Scientific Corporation, a global medical technology
leader. As Senior Vice President, Corporate Technology Development from
2007 to 2010, Dr. Barry was responsible for leading Boston Scientific's
$1 billion global R&D effort. While at Boston Scientific, Dr. Barry
oversaw the development of the TAXUSTM Drug Eluting coronary
stent which remains the biggest medical device launched, gaining more
than $3 billion in first year sales. His team also developed several
other drug device combination products.
Dr. Barry currently serves on a number of advisory boards including the
College of Biomedical Engineering at Yale University, the College of
Sciences at University of Massachusetts-Lowell and the Massachusetts
Life Science Center.
Dr. Barry received his Ph.D. in Biochemistry from the University of
Massachusetts, Lowell and a B.A. in Chemistry from St. Anselm College.
"We are very pleased to welcome Jim to pSivida as a director," said Dr.
David Mazzo, Chairman of the Board of pSivida Corp. "Jim has a proven
track record in developing and delivering high value products to market,
leading research and development and building successful businesses.
This, coupled with his broad expertise in advising clients in the
pharmaceutical, biotechnology and medical device industries, will make
him a valuable addition to our board. We look forward to sharing in his
significant experience as we work to build pSivida for our shareholders."
About pSivida Corp.
pSivida Corp., headquartered in Watertown, MA, is a leader in the
development of sustained release, drug delivery products for treating
eye diseases. pSivida is currently focused on treatment of chronic
diseases of the back of the eye utilizing its core technology systems,
Durasert™ and BioSilicon™, including Tethadur™. pSivida has instituted a
pivotal Phase III clinical trial of its lead product candidate, Medidur™
for treatment of the chronic, back-of-the-eye disease posterior uveitis.
Medidur uses the same injectable, sustained release micro-insert as
pSivida's lead licensed product, ILUVIEN® for the treatment of DME,
licensed to Alimera Sciences, Inc. ILUVIEN is marketed in the U.K. and
Germany, has also received marketing authorization in eight other EU
countries and is pending approval in seven more EU countries under the
Mutual Recognition Procedure, for the treatment of chronic DME
considered insufficiently responsive to available therapies. ILUVIEN for
DME is currently under review by the FDA with a PDUFA goal date of
September 26, 2014. pSivida's FDA-approved Retisert®, an implant which
provides long-term, sustained drug delivery to treat posterior uveitis,
is licensed to and sold by Bausch & Lomb Incorporated. pSivida's
pre-clinical research is focused on ocular and systemic delivery of
biologics and treatment of wet and dry age-related macular degeneration,
osteoarthritis and glaucoma.
SAFE HARBOR STATEMENTS UNDER THE PRIVATE SECURITIES LITIGATION REFORM
ACT OF 1995: Various statements made in this release are
forward-looking, and are inherently subject to risks, uncertainties and
potentially inaccurate assumptions. All statements that address
activities, events or developments that we intend, expect or believe may
occur in the future are forward-looking statements. The following are
some of the factors that could cause actual results to differ materially
from the anticipated results or other expectations expressed,
anticipated or implied in our forward-looking statements: uncertainties
with respect to: the number of clinical trials necessary to seek FDA
approval for Medidur for posterior uveitis, which may depend on whether
or not the FDA approves ILUVIEN, and outcome of the clinical trial(s);
Alimera's ability to finance, achieve additional marketing approvals,
obtain adequate pricing and reimbursement for, successfully
commercialize and achieve market acceptance of, and generate revenues to
pSivida from, ILUVIEN for chronic DME in the EU; Alimera's ability to
obtain regulatory approval for, and if approved, to finance,
successfully commercialize and achieve market acceptance of, and
generate revenues to pSivida from, ILUVIEN for DME in the U.S.;
Alimera's ability to pay the $25.0 million milestone due upon FDA
approval; our ability to finance, complete and achieve a successful
outcome for clinical trials for, and file and achieve marketing
approvals for, Medidur, including achieving acceptable risk-to-benefit
and safety profiles in light of the CRL for ILUVIEN; ability of Tethadur
to successfully deliver proteins, peptides and other large biologic
molecules; ability to develop product candidates and products and
potential related collaborations; initiation and completion of clinical
trials and obtaining regulatory approval of product candidates;
continued sales of Retisert; adverse side effects; ability to attain
profitability; ability to obtain additional capital; further impairment
of intangible assets; fluctuations in operating results; decline in
royalty income; ability to, and to find partners to, develop and market
products; termination of license agreements; competition and other
developments affecting sales of products; market acceptance; protection
of intellectual property and avoiding intellectual property
infringement; retention of key personnel; product liability;
consolidation in the pharmaceutical and biotechnology industries;
compliance with environmental laws; manufacturing risks; risks and costs
of international business operations; credit and financial market
conditions; legislative or regulatory changes; volatility of stock
price; possible dilution; absence of dividends; and other factors
described in our filings with the SEC. Given these uncertainties,
readers are cautioned not to place undue reliance on such
forward-looking statements. Should known or unknown risks materialize,
or should underlying assumptions prove inaccurate, actual results could
differ materially from past results and those anticipated, estimated or
projected in the forward-looking statements. Our forward-looking
statements speak only as of the dates on which they are made. We do not
undertake any obligation to publicly update or revise our
forward-looking statements even if experience or future changes makes it
clear that any projected results expressed or implied in such statements
will not be realized.
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The President's Blog: http://www.thechairmansblog.com/paul-ashton
For more information on pSivida, visit www.psivida.com.
Martin E. Janis & Company, Inc.
Source: pSivida Corp.
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