ATLANTA, July 9 /PRNewswire/ -- Alimera Sciences Inc., a recently formed specialty pharmaceutical company focused on the ophthalmic industry, announced today that it has received $26.75 million in Series A financing. The funds will be used for acquisition and continued development of the company’s ophthalmic pharmaceutical pipeline and for the commercialization of the company’s over-the-counter ophthalmic products.
Alimera Sciences, created in 2003 by former key management team members of Novartis Ophthalmics, in-licenses, co-develops and markets specialty pharmaceuticals that address underserved clinical areas within the ophthalmic market.
During the next 18 months, the company intends to launch a line of over-the-counter products, the first of which will be a differentiated dry eye product introduced this fall. Launching this product line will create near-term revenue streams, build customer relationships and establish distribution channels for future prescription products.
“The Alimera Sciences management team combined its 100 years of collective experience with a fresh, entrepreneurial approach to create a strategic, agile ophthalmic company,” said Dan Myers, president and chief executive officer of Alimera Sciences. “This funding will support rapid product commercialization and continued development of our existing portfolio, while allowing us to capitalize on new opportunities as they arise. Together with our strong financial partners, the Alimera Sciences team is ready and eager to meet the needs of our ophthalmic customers.”
Intersouth Partners led the financing and was joined by BA Venture Partners, Domain Associates and Polaris Venture Partners. Each of the four venture capital firms made an equal investment and will hold one seat on Alimera Sciences’ board of directors.
“The decision to support Alimera Sciences demonstrates our confidence in the company’s ability to successfully address unmet clinical needs in the ophthalmic market,” said Garheng Kong, M.D., Ph.D., Intersouth Partners. “Alimera Sciences’ proven management team already has developed a solid product pipeline, and we look forward to strong market performance.”
About Alimera Sciences Inc.
Alimera Sciences Inc., based in Atlanta, Georgia, specializes in the development and commercialization of ophthalmic products. Founded by executives with a proven track record of product development and revenue growth in the ophthalmic pharmaceutical industry, Alimera Sciences was initially created to capitalize on underserved areas of the ophthalmic market. The company is a commercially focused enterprise structured to respond quickly to market opportunities.
http://www.alimerasciences.com/
Alimera Sciences Inc.
CONTACT: Rosa Herrera of Fleishman Hillard, +1-404-739-0153, orherrerar@fleishman.com , for Alimera Sciences Inc.
Web site: http://www.alimerasciences.com/
