Sept. 19, 2002 — pSivida Ltd., a Perth, Australia-based nanostructured materials developer, announced a $4.1 million equity line of credit from New York private equity group Global Emerging Markets (GEM), according to a news release.
Under the agreement, GEM will make equity investments over three years at the option of pSivida, which will pay a commitment fee and issue additional options to GEM. pSivida’s goal is to develop nanostructured porous silicon for applications in human and animal health care.