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Print Edition StoriesFriday, March 13, 2009
PSivida CFO Michael Soja resigns
By Mass High Tech staff
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Michael Soja will resign from his position as chief financial officer and vice president, finance, at Watertown-based biotech company pSivida Corp., effective March 20, the company announced. Len Ross, pSivida corporate controller, will take over as principal financial and accounting officer.
The company said Soja resigned to pursue other interests.
PSivida (Nasdaq: PSDV) develops miniaturized, injectable drug delivery systems for eye patients. Its Iluvien is an insert containing the corticosteroid, fluocinolone acetonide, that goes into the eye of someone with diabetic macular edema, a disease which causes progressive loss of sight.
The company reported on Thursday that it had positive results from a Phase 2 study that had no patients on the lower doses of Iluvien reporting increased pressure in the eye, and 23.5 percent of those in the higher dose group reporting some increased pressure, with one requiring surgery -- better results, pSivida pointed out, than an insert using the same active compound from Bausch & Lomb Inc.
Mass High Tech reported last month that pSivida has found partnerships key to survival in the past years, leading to a major rebound and reincorporation.
For fiscal 2008, pSivida posted a loss of $75.7 million on revenue of $3.5 million.
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