Navigation Links
Alimera Sciences Closes $5 Million in Extended Series C Financing

ATLANTA, Aug. 27 /PRNewswire/ -- Alimera Sciences, Inc., today announced that it has closed a $5 million extension of its Series C financing which was originally completed in March 2008. In connection with this financing, the purchasers of the $5 million in Series C preferred stock received warrants for an additional $10 million in Series C preferred stock. The warrant holders will have up to 30 days from the delivery of Phase III top-line data for Iluvien(R) to elect to exercise the warrants. If the majority of the holders of warrants make such election, then all warrant holders will be required to exercise their warrants in full. Alimera expects to receive the Phase III top-line data for Iluvien in December of this year.

Iluvien is an investigative, extended release intravitreal insert that Alimera is developing for the treatment of diabetic macular edema (DME). Currently, nearly 24 million people, or 8 percent of the population, in the U.S. have diabetes. Over time, all diabetics are at risk of developing DME. Based on published data, Alimera estimates that there are as many as 300,000 new cases of DME each year and 1,000,000 people have DME. There are no ophthalmic drug therapies currently approved by the U.S. Food and Drug Administration for the treatment of this disease.

Each Iluvien insert is designed to provide a sustained therapeutic effect of up to 36 months, for the low dose of Iluvien, and up to 24 months, for the high dose of Iluvien. Iluvien is inserted into the patient's eye with a 25-gauge needle, which allows for a self-sealing wound. This insertion is very similar to an intravitreal injection, a procedure commonly employed by retinal specialists.

About Alimera Sciences Inc.

Alimera Sciences is a biopharmaceutical company that specializes in the research, development and commercialization of prescription ophthalmic pharmaceuticals. Presently the company is focused on diseases affecting the back of the eye, or retina. Its most advanced product candidate is Iluvien(R), which is being developed for the treatment of diabetic macular edema, or DME. DME is a disease of the retina, which affects individuals with diabetes and can lead to severe vision loss and blindness. Under one protocol, enrollment was completed in October 2007 in two Phase 3 pivotal trials for the use of Iluvien in the treatment of DME conducted across the U.S., Canada, Europe and India.

Alimera also has entered into an exclusive worldwide agreement with Emory University to explore oxidative stress management -- specifically the reduction of reactive oxygen species (ROS) -- as a treatment strategy for ophthalmic diseases. Under this agreement, Alimera has acquired options to exclusive, worldwide licenses for two classes of nicotinamide adenine dinucleotide phosphate reduced form (NADPH) oxidase inhibitors, which Alimera is studying as potential treatments for conditions such as the dry form of age-related macular degeneration (AMD), particularly the late stage of this condition known as geographic atrophy. Alimera has exercised its option to acquire a license with respect to one of these classes of NADPH oxidase inhibitors.

SOURCE Alimera Sciences, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Alimera Sciences Begins Pilot Study to Assess Safety and Efficacy of Iluvien(TM) in Patients With Bilateral Geographic Atrophy Due to AMD
2. Alimera Sciences, pSivida Limited Amend Medidur(TM) FA Collaboration Agreement
3. Regado Biosciences Announces First Patient Enrolled In Phase 1 Study Of Subcutaneously Administered Reg1 Anticoagulation System
4. Biosciences Firm Chooses CloudCraze for eCommerce Business Solution -- LI-COR and EDL Consulting Take Expertise into the "Cloud"
5. PharmaTelevision Launches the First Daily News Show for the Life Sciences Industry
6. Cryo-Cell Announces Strategic Partnership With S-Evans Biosciences, Inc.
7. BP and Martek Biosciences Enter Joint Development Agreement to Deliver Advanced Biodiesels
8. Advanced Life Sciences Announces Second Quarter 2009 Financial Results and Financial Outlook
9. BP and Martek Biosciences Enter a Joint Development Agreement to Deliver Advanced Biodiesels
10. Ingenuitys Technology Powers BD Cell Pathways Tool on New BD Biosciences Website
Post Your Comments:
(Date:12/1/2015)... ... December 01, 2015 , ... RURO, Inc., a ... system laboratory animal colony management software solution, ezColony®, is now available as a ... resources., , Many organizations are moving to cloud-hosting for ...
(Date:12/1/2015)... ... December 01, 2015 , ... The American ... Dr. J. Kyle Mathews will join fellow surgeons in the shared ... hysterectomy. , An experienced urogynecologist, founder of Plano Urogynecology Associates and Fellow ...
(Date:11/30/2015)... ... 2015 , ... Global Stem Cells Group today ... Santiago Marriott. The Global Stem Cells Group GMP facility is equipped with the ... medical researchers and practitioners, experienced in administering stem cell protocols using highly manipulated ...
(Date:11/30/2015)... ALBANY, N.Y. , Nov. 30, 2015 /PRNewswire-USNewswire/ ... led by assistant chemistry professor Jan Halámek, is ... level.   --> ...   --> ... researchers at UAlbany have discovered a straightforward concept ...
Breaking Biology Technology:
(Date:11/19/2015)... , Nov. 19, 2015  Based on its ... & Sullivan recognizes BIO-key with the 2015 Global Frost ... year, Frost & Sullivan presents this award to the ... catering to the needs of the market it serves. ... line meets and expands on customer base demands, the ...
(Date:11/17/2015)... 17, 2015 Paris ... --> Paris , qui s,est ... DERMALOG, le leader de l,innovation biométrique, a inventé le ... et empreintes sur la même surface de balayage. Jusqu,ici, ... l,autre pour les empreintes digitales. Désormais, un seul scanner ...
(Date:11/12/2015)... CAMBRIDGE, Mass. , Nov. 12, 2015 /PRNewswire/ ... Broad Institute of MIT and Harvard for use ... chemical discovery information management tools. The partnership will ... share both biological and chemical research information internally ... tools will be used for managing the Institute,s ...
Breaking Biology News(10 mins):