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Drug Delivery Research Company, pSivida, Sells Food Industry Biosilicon Company, pSiNutria, to Intrinsiq

From EyePoint Pharmaceuticals, Inc.Jan 21 2008

pSivida Limited and Intrinsiq Materials Cayman Limited today announced that the assets of SiNutria Limited, a wholly owned subsidiary of pSivida, have been sold to Intrinsiq, a UK based venture capital company funded by QinetiQ (pSivida’s second largest and founding shareholder) and headed by a former pSivida Non-executive Director, Mr Stephen Lake.

pSiNutria was established in December 2005 to develop applications of the Company’s BioSiliconTM technology for the food industry.
Intrinsiq is obligated to make a series of payments totaling US$1.23m in the first year following this closing of this transaction.
Intrinsiq is obligated to pay royalties with minimum royalty payments of US$3.95m over approximately the next 6 years, $500k of which would be payable 18 months after the closing.
pSivida retains all rights outside the food science arena.
Follows the sale last year of wholly owned subsidiary, AION Diagnostics
Increased focus on core business – drug delivery and oncology

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APA
EyePoint Pharmaceuticals, Inc.. (2019, February 15). Drug Delivery Research Company, pSivida, Sells Food Industry Biosilicon Company, pSiNutria, to Intrinsiq. AZoNano. Retrieved on November 21, 2024 from https://www.azonano.com/news.aspx?newsID=5703.
MLA
EyePoint Pharmaceuticals, Inc.. "Drug Delivery Research Company, pSivida, Sells Food Industry Biosilicon Company, pSiNutria, to Intrinsiq". AZoNano. 21 November 2024. <https://www.azonano.com/news.aspx?newsID=5703>.
Chicago
EyePoint Pharmaceuticals, Inc.. "Drug Delivery Research Company, pSivida, Sells Food Industry Biosilicon Company, pSiNutria, to Intrinsiq". AZoNano. https://www.azonano.com/news.aspx?newsID=5703. (accessed November 21, 2024).
Harvard
EyePoint Pharmaceuticals, Inc.. 2019. Drug Delivery Research Company, pSivida, Sells Food Industry Biosilicon Company, pSiNutria, to Intrinsiq. AZoNano, viewed 21 November 2024, https://www.azonano.com/news.aspx?newsID=5703.