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The Deal on Alimera Series C
The Deal
March 20, 2008
Eye drug maker Alimera Sciences Inc. has completed a $30 million
Series C funding from its existing investors and acquired a majority
stake in one of its development projects. Alimera stakeholders
include Scale Venture Partners of Foster City, Calif., Domain Associates
of Princeton, N.J., Intersouth Partners of Durham, N.C., Polaris
Venture Partners of Waltham, Mass., and Venrock Associates of Menlo
Park, Calif. The new funds will allow Alimera to pay $12 million
in cash, plus a $15 million note and other future milestone considerations,
to acquire a majority stake in Medidur FA, a diabetic macular edema
treatment Alimera has been developing in partnership with pSivida
Ltd. of Perth, Australia. Alimera had previously raised about $58.5
million in two rounds dating back to 2004.
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