Communicators

pSivida New Board Appointments

Boston, MA (July 14, 2008) – pSivida Corp. (NASDAQ: PSDV, ASX: PVA, FF: PSI), a leading drug delivery company headquartered in Watertown, MA, is pleased to announce the appointment to their Board of Directors of Peter G. Savas and Paul A. Hopper as non-executive Directors.

Peter Savas is the Chairman and Chief Executive Officer of Alseres Pharmaceuticals, Inc. a NASDAQ listed (ALSE) biotechnology company based in Hopkinton, MA. engaged in the clinical development of biopharmaceutical products for the diagnosis of degenerative neurological diseases and the treatment of acute spinal cord injury. Mr. Savas has served as Chairman and CEO of Alseres since September 2004. Prior to joining Alseres, Mr. Savas was Chairman, President, and Chief Executive Officer of Aderis Pharmaceuticals which was subsequently sold to one of its corporate partners in 2004. Mr. Savas was also Chairman, President and CEO of Unisyn Technologies, a company he repositioned, refinanced and subsequently sold to Cellex Biosciences in 2000. Mr. Savas has a BA in chemistry from Syracuse University.

Paul Hopper is the founder and lead Director of Polynoma LLC and also a Director of ASX listed Somnomed Limited (SOM) which globally manufactures and markets a dental device for sleep disorders. Mr. Hopper was previously the Executive Chairman of ASX listed Bone Medical Limited (BNE) and Cell Aquaculture Limited (CAQ) and Managing Director of Australian Cancer Technology Limited (ACU), which was rated by CitiGroup as one of the best performing biotechs in the Australian index in 2004. Mr Hopper holds a degree in Political Science from The University of New South Wales (B.A.) and a Diploma from the Securities Institute of Australia (A.S.I.A.). Mr Hopper is an Australian citizen based in Los Angeles, California.

“Both Peter and Paul have demonstrated track records of success in building successful biotech companies,” said Dr. David J. Mazzo, Non-executive Chairman, pSivida Corp. “The pSivida Board will benefit from their skills and experience as we continue to work to build shareholder value.”

Released by:

pSivida Corp.
Brian Leedman
Vice President, Investor Relations
pSivida Corp.
Tel: +61 8 9227 8327
brianl@psivida.com

US Public Relations
Beverly Jedynak
President
Martin E. Janis & Company, Inc
Tel: +1 (312) 943 1100 ext. 12
bjedynak@janispr.com

European Public Relations
Eva Reuter
Accent Marketing Limited
Tel: +49 251 713 2862
e.reuter@dr-reuter.eu

About pSivida Corp.

pSivida is a leading drug delivery company committed to the biomedical sector and the development of drug delivery products. Retisert® is FDA approved for the treatment of uveitis. Vitrasert® is FDA approved for the treatment of AIDS-related CMV Retinitis. Bausch & Lomb owns the trademarks Vitrasert® and Retisert®. pSivida has licensed the technologies underlying both of these products to Bausch & Lomb. The technology underlying Medidur™ for diabetic macular edema is licensed to Alimera Sciences in an agreement valued at up to US$78m and is in fully funded and recruited Phase III clinical trials. If approved, it is anticipated that Medidur will be marketed under the name Iluvien. pSivida has a worldwide collaborative research and license agreement with previous and future payments up US$165m with Pfizer Inc. for certain other ophthalmic applications of the Medidur™ technology.

pSivida owns the rights to develop and commercialize a modified form of silicon (porosified or nano-structured silicon) known as BioSilicon™, which has applications in drug delivery, wound healing, orthopedics, and tissue engineering. The most advanced BioSilicon™ product, BrachySil™, delivers a therapeutic, P32 directly to solid tumors and is presently in dose ranging clinical trials as a device for the treatment of pancreatic cancer.

pSivida’s intellectual property portfolio consists of 68 patent families, 118 granted patents, including patents accepted for issuance and 275 patent applications. pSivida conducts its operations from Boston in the United States, Malvern in the United Kingdom and Perth in Australia.

SAFE HARBOR STATEMENTS UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Various statements made in this release are forward-looking and involve a number of risks and uncertainties. All statements that address activities, events or developments that we intend, expect or believe may occur in the future are forward-looking statements. The following are some of the factors that could cause actual results to differ materially from the forward-looking statements: achievement of milestones and other contingent contractual payment events; failure to prove efficacy for BrachySil; inability to raise capital; continued losses and lack of profitability; inability to develop or obtain regulatory approval for new products; inability to protect intellectual property or infringement of others’ intellectual property; inability to obtain partners to develop and market products; termination of license agreements; competition; inability to pay any registration penalties; costs of international business operations; manufacturing problems; insufficient third-party reimbursement for products; failure to retain key personnel; product liability; inability to manage change; failure to comply with laws; failure to achieve and maintain effective internal control over financial reporting; amortization or impairment of intangibles; possible dilution through exercise of outstanding warrants and stock options or future stock issuances; potential restrictions from capital raises; possible influence by Pfizer; and other factors that may be described in our filings with the Securities and Exchange Commission. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. We do not undertake to publicly update or revise our forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied in such statements will not be realized.