Healthcare Industry News: diabetic macular edema
News Release - November 27, 2006
Alimera Sciences Completes Second Tranche of Series B Financing, Receives $15.9 MillionATLANTA, Nov. 27 (HSMN NewsFeed) -- Alimera Sciences Inc., an ophthalmic pharmaceutical company, announced today that it has completed the second tranche of its Series B financing, receiving $15.9 million in additional venture capital. This represents the culmination of the Company's Series B financing of $31.8 million secured in November 2005, at which time Alimera received an initial $15.9 million in proceeds.
The additional resources will be used to further develop Medidur(TM), Alimera Sciences' Phase III-stage treatment for diabetic macular edema (DME). The company will also use these funds to expand its development pipeline-- including additional drug delivery technologies that have been identified-- and to capitalize on other strategic opportunities as they arise.
All of the investors that committed to the Company's Series B financing in November 2005 participated in the funding of the second tranche. These investors include BA Venture Partners, Domain Associates, Intersouth Partners, Polaris Venture Partners and Venrock Associates, as well as several individual investors.
"The Alimera Sciences team is proud of the continued support we have received from our shareholders," said Dan Myers, president and chief executive officer of Alimera Sciences. "Alimera and our partners are confident in the progress we have made in the Medidur(TM) Phase III trial. We will continue to evaluate additional opportunities for our pipeline and prepare for the next stage of product development to assist the ophthalmic community in meeting the needs of its patients."
About Alimera Sciences Inc.
Alimera Sciences Inc. specializes in the development and commercialization of over-the-counter and prescription ophthalmology pharmaceuticals. Founded by an executive team with extensive development and revenue growth expertise, Alimera Sciences' products address both the anterior (front) and posterior (back) segments of the eye. In August 2004, Alimera Sciences unveiled Soothe®, the market's first multi-dose, emollient-based artificial tear product, and in October 2005 initiated a Phase III clinical trial to study diabetic macular edema (DME) patients treated using Medidur(TM) with fluocinolone acetonide, the company's pharmacologic treatment for DME.
Source: Alimera Sciences
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