pSivida has received two grants totaling $489,000 under the IRS Qualifying Therapeutic Discovery Project (QTDP).
According to the company, the grants will fund further research on new generations of the its drug delivery technologies targeting ophthalmic diseases.
pSivida develops tiny drug delivery products that are administered by implantation, injection or insertion and provide sustained release of drugs on a controlled and level basis for months or years.
The company said that it uses these systems to develop treatments for serious, unmet, medical needs.