November 30, 2005
Alimera Sciences Raises $31.8 Million
PRNewswire - Constitution
ATLANTA, Nov. 30 /PRNewswire/ -- Alimera Sciences Inc., an ophthalmic pharmaceutical company, announced today that it has completed Series B financing, securing $31.8 million in venture capital. Premier venture firm Venrock Associates led the new round, and all four original Series A firms continued their investment.
The additional resources will be used to further develop Alimera Sciences' retinal portfolio, including Medidur(TM), the company's Phase III-stage treatment for diabetic macular edema (DME). The company will also employ Series B funds to expand its commercial organization and to capitalize on other strategic opportunities as they arise.
"The Alimera Sciences team is very fortunate to receive endorsement from such a prestigious firm as Venrock, and we are proud to continue holding the confidence of our existing premier financial partners," said Dan Myers, president and chief executive officer of Alimera Sciences. "The company, together with our partners, is prepared for the next stage of product development and commercialization. We look forward to helping the ophthalmic community meet the needs of its patients."
In addition to Venrock Associates, all four initial investors joined the Series B financing. They include BA Venture Partners, Domain Associates, Intersouth Partners and Polaris Venture Partners. A representative from Venrock Associates will join the Alimera Sciences Board of Directors.
"Given Alimera Sciences' early success in product development and commercialization, its solid growth strategy, and its strong management team, we are confident that the company will continue to deliver success," said Anders Hove, general partner at Venrock Associates. Venrock Associates was founded as the venture capital arm of the Rockefeller Family and today continues a six-decade tradition of funding entrepreneurs and establishing successful, enduring companies.
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(R), 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.