A company called Alimera Sciences, Inc. has filed for an initial public offering to sell up to $75 million as the nominal securities amount. The company noted that all shares will be sold by the company and it has applied for the stock ticker "ALIM" on NASDAQ.
The underwriting group for this IPO is listed as Credit Suisse, Citigroup, Cowen & Co., and Leerink Swann.
The company is a biopharma operation in R&D and commercialization of prescription ophthalmic pharmaceuticals, with a present focus on diseases affecting the back of the eye or retina as these diseases are not well treated with current therapies and represent a significant market opportunity. Its most advanced product candidate is Iluvien, an intravitreal insert to provide a sustained therapeutic effect for up to 36 months in the treatment of diabetic macular edema, and the company has completed enrollment of 956 patients in two Phase III pivotal clinical trials.
For all practical purposes, the company is a pre-revenue stage and all financials so far revolve around R&D and administrative expenses. The company has 5 venture capital groups that have backed it.
Jon C. Ogg
July 2, 2008
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