BIOSILICON company pSiVida has signed a worldwide licence agreement with its UK subsidiary, pSiMedica, for the use of BioSilicon in diagnostics applications as implants in the bodies of humans and animals.
The agreement will allow pSiVida to develop a wholly owned diagnostics business utilising the biodegradable, sensor, charge bias and drug monitoring capabilities of the product.
pSiVida has the first right of refusal from pSiMedica to develop products using skin patches and topical applications for ‘on’ the body diagnostics.
The ‘smart’ applications using micro-sensors and chips are reserved by pSiMedica for collaborations with global electronics and chip technology companies that have already expressed an interest in developing such products.
pSiVida also issued 13 million fully paid ordinary shares at 50 cents each to raise $6.5 million by way of a private placement on October 3.