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news.pSivida has received $500,000 as the first quarterly research and development payment from Pfizer.
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pSivida gets this payment under the terms of the exclusive worldwide collaborative research and license agreement for pSivida’s controlled drug delivery technologies in ophthalmic applications.
Over the last 10 months pSivida has received $12 million from Pfizer, including equity investments, under the terms of that agreement and will receive up to an additional $153.5 million in development and sales related milestones. Pfizer is the largest shareholder in the company holding approximately 10% of the outstanding shares.