According to CRADA, Pfizer can use pSivida’s Medidur™ technology in ophthalmic applications.

Pfizer gained access to pSivida’s controlled drug delivery technologies, including the Medidur™ technology in ophthalmic applications.

Under this exclusive, worldwide CRADA, pSivida stands to earn $155 million in development and sales related milestones. Pfizer will fund the total cost of the joint research program aimed at developing products using pSivida’s technologies.

Pfizer also reports that it invested $5 million in pSivida and plans to contribute an additional $5 million subject to certain conditions.

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