BEIJING MED-PHARM CORPORATION AND PSIVIDA REACH AGREEMENT TO DISTRIBUTE BRACHYSIL

Beijing Med-Pharm Corporation (BJGP.PK) and pSivida Limited (ASX:PSD, NASDAQ:PSDV, Xetra:PSI) today announced that they have signed a licensing agreement for the clinical development, marketing, and distribution of pSivida's lead product, BrachySil(TM), in the People's Republic of China. Under the terms of the license, pSivida will manufacture BrachySil(TM) and Beijing Med-Pharm will be responsible for clinical development, securing regulatory approval, marketing, and distribution in China.

Business Wire (http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20051026006184&newsLang=en)