pSivida and Nicox inks deal to develop sustained release drug to lower IOP in patients with Glaucoma; shares ahead 12% premarket [Seeking Alpha]
PSIVIDA (PSDV)
Last psivida earnings: 2/7 04:02 pm
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Source: Seeking Alpha
pSivida and Nicox inks deal to develop sustained release drug to lower IOP in patients with Glaucoma; shares ahead 12% premarketpSivida (NASDAQ:PSDV) and Nicox S.A. (OTCPK:NICXF)collaborate to explore the potential of combining pSivida's bioerodible sustained release drug delivery system with Nicox's nitric oxide-donating compounds, to develop a sustained release drug to lower intraocular pressure in patients with glaucoma or ocular hypertension.pSivida will be responsible for initial development activities of ocular insert formulations, for which it will receive undisclosed sums by Nicox.Nicox would make additional payments for any incremental development activities. New intellectual property from the collaboration will be jointly owned. Separate license agreement will be negotiated for any product candidate, developed and commercialize as a result of this collaboration.Shares of pSivida are ahead12% premarket on modest volume.Now read:uniQure: A Busted Biotech IPO Worth Owning »
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