RA Capital Invests $7.0 Mln In PSivida

(RTTNews) - pSivida Corp. (PSDV, PVA.AX),announced that RA Capital has entered into a securities purchase agreement with the company to invest approximately $7.0 million in a registered direct offering through the sale of a total of 1.7 million shares of the Company's common stock at a per share price of $4.11.

The offering is expected to close on or about March 18, 2014 subject to the satisfaction of customary closing conditions.

The company said it intends to use the proceeds from this offering to accelerate its Tethadur program, fund its clinical trials for posterior uveitis and for general corporate purposes.