Alimera raises $50M from Deerfield

DME play Alimera Sciences Inc. (NASDAQ:ALIM) closed a $50 million private placement with Deerfield Management. The firm and its affiliates agreed to acquire 8,292 non-voting series B shares at $6,030 on Nov. 26, and can convert each to 1,000 shares of common stock at any time, provided the aggregate equity stake remains below 9.98%.

In early 2015, Alimera plans to launch Iluvien in the U.S., following FDA approval in September to treat diabetic macular edema. It already markets the product in Europe. Illuvien comprises an injectable insert delivering sustained release fluocinolone acetonide to the retina (see BioCentury Extra, Sept. 26). ...