pSivida completes acquisition of Control Delivery Systems

04-Jan-2006

Global bio-nanotech company pSivida Limited announced that on 30 December 2005 it completed the acquisition of Control Delivery Systems, Inc. ("CDS"), a private US drug delivery company located in the Boston, Massachusetts area. CDS has been renamed pSivida Inc.

This acquisition is an integral part of pSivida's on-going US growth strategy. CDS' portfolio of products and product candidates includes two approved and marketed products, one Phase III product and other early-stage product candidates. The acquisition of CDS will bring additional product development and regulatory expertise to pSivida's management team and provide pSivida with an operating base in the Boston biotech hub, enhancing its overall visibility as well as access to the US scientific and investment communities.

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