pSivida Corp
(ASX:PVA) has announced the closing of an underwritten public offer of 4.44 million shares at $4 each to raise gross proceeds of $17.8 million.
pSivida expects net proceeds from the offering to total $16.4 million after fees and expenses.
The company, which specialises in drug delivery products for treating eye diseases is dual listed on the ASX and the Nasdaq.
pSivida has developed three of only four FDA-approved sustained release treatments for back of the eye diseases.
pSivida reported a net profit of $8.26 million at 30 June 2015.
