pSivida nets $459,000 private placement

Oct. 14, 2002 — pSivida Ltd., a Perth, Australia-based nanostructured materials developer, announced the private placement of 7 million shares with unnamed clients of Burdett Buckeridge Young Ltd., a financial advisory and stockbroking firm, according to a company spokesman.

The placement raised approximately $459,000, which the company will use for working capital. pSivida is working to develop nanostructured porous silicon, which it calls BioSilicon, for applications in human and animal health care.

Last month, subsidiary pSiMedica received European patent protection for various health care applications of BioSilicon. In early October, pSiMedica announced it succeeded in collecting human perspiration with skin patches using BioSilicon wafers, which the company intends to use for diagnostic applications.


Easily post a comment below using your Linkedin, Twitter, Google or Facebook account. Comments won't automatically be posted to your social media accounts unless you select to share.