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Atlanta’s Alimera Sciences IPO raises $72M

April 22nd, 2010

ATLANTA – Alimera Sciences Inc. developing prescription eye treatments, has raised about $72 million in an initial public offering of stock.

Alimera sold 6.5 million shares at $11 a share, a significant discount from the proposed pricing of $15 to $17 a share.

It will trade on Nasdaq under the symbol “ALIM.”

Alimera has raised nearly $71 million in venture backing since its founding in June 2003. Investors include Scale Venture Partners, Domain Associates, Intersouth Partners, and Polaris Venture Partners, which all have an 18.44 percent stake. Venrock Associates has a 14.93 percent stake.

The company focuses on diseases affecting the lining in the back of the eye, or retina, because these diseases are either not treated pharmacologically or are in need of improved treatments.

It says it is also testing treatments for a type of age-related macular degeneration.

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