ATLANTA, Nov. 5, 2010 (GLOBE NEWSWIRE) -- Alimera Sciences, Inc., (Nasdaq:ALIM) ("Alimera"), a biopharmaceutical company that specializes in the research, development and commercialization of prescription ophthalmic pharmaceuticals, today accepted the 2010 Southeast BIO (SEBIO) Deal of the Year: Strategic Transaction award at a ceremony held at the conclusion of the organization's 12th Annual Investor Forum. The SEBIO Annual Investor Forum is the region's premier life sciences venture capital conference and attracts an estimated 400 attendees. Rick Eiswirth, Alimera's chief operating officer and chief financial officer, accepted the award on behalf of the company.
"As one of the fastest growing industry hubs in the country, Southeast BIO is in a unique position to recognize some of the nation's leading life sciences companies," remarked Jennifer Moore, Ph.D., executive director of SEBIO. "Alimera is an outstanding example of a sustainable and innovative business, and we are delighted to honor their contributions today among industry peers and venture capital investors."
Alimera was selected for this award as a result of the company's initial public offering and venture debt raise totaling more than $100 million earlier this year. On April 21, 2010, Alimera completed its initial public offering of 6.55 million shares of common stock, resulting in net proceeds to Alimera of approximately $68.4 million. Shares of Alimera common stock began trading on the NASDAQ Global Market under the symbol "ALIM" on Thursday, April 22, 2010. In October, 2010, Alimera obtained a $32.5 million senior secured credit facility to help fund its working capital requirements.
"Alimera is proud to be recognized by SEBIO for our strategic financial transactions and as a driving force in the region's life sciences industry," said Eiswirth. "We hope our investors will continue to benefit from our recent progressive strides, namely the positive results from our Phase 3 (FAME™) clinical trials of our lead product candidate, Iluvien®, for patients with diabetic macular edema (DME), which is now under Priority Review by the FDA."
Alimera Sciences was one of the more than 30 emerging life sciences companies showcased at the SEBIO Investor Forum from Alabama, Florida, Georgia, North Carolina, South Carolina, Tennessee, Virginia and beyond, this year, and one of four companies to accept a SEBIO award.
Southeast BIO (SEBIO) is a regional nonprofit organization that fosters the growth of the life sciences industry in the Southeastern United States through efforts that promote entrepreneurship and bring together companies, investors, universities, and support organizations active in the development of the industry. A public/private partnership formed in 1999, SEBIO is committed to conducting activities that create regional leverage and facilitate the common interests and goals of constituents in the life sciences industry. SEBIO's geographic footprint presently includes Alabama, Florida, Georgia, North Carolina, South Carolina, Tennessee, and Virginia.
About Alimera Sciences, Inc.
Alimera Sciences, Inc., based in Alpharetta, Georgia, is a biopharmaceutical company that specializes in the research, development and commercialization of prescription ophthalmic pharmaceuticals. Presently, Alimera is focused on diseases affecting the back of the eye, or retina. Its advanced product candidate, Iluvien®, is an intravitreal insert containing fluocinolone acetonide, a non-proprietary corticosteroid with demonstrated efficacy in the treatment of ocular disease. Iluvien is in development for the treatment of DME, a disease of the retina that affects individuals with diabetes and can lead to severe vision loss and blindness.
Forward Looking Statements
This press release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, regarding, among other things, Alimera's future results of operations and financial position, business strategy and plans and objectives of management for Alimera's future operations. Words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "likely," "will," "would," "could," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The events and circumstances reflected in Alimera's forward-looking statements may not occur and actual results could differ materially from those projected in its forward-looking statements. Meaningful factors which could cause actual results to differ include, but are not limited to, delay in or failure to obtain regulatory approval of Alimera's product candidates, uncertainty as to Alimera's ability to commercialize, and market acceptance of, its product candidates, the extent of government regulations, uncertainty as to relationship between the benefits of Alimera's product candidates and the risks of their side-effect profiles, dependence on third-party manufacturers to manufacture Alimera's product candidates in sufficient quantities and quality, uncertainty of clinical trial results, limited sales and marketing infrastructure, and Alimera's ability to operate its business in compliance with the covenants and restrictions that it is subject to under its credit facility, as well as other factors discussed in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Alimera's quarterly reports on Form 10-Q for the quarters ended March 31, 2010 and June 30, 2010, which are on file with the Securities and Exchange Commission (SEC) and available on the SEC's website at www.sec.gov. Additional factors may also be set forth in those sections of Alimera's quarterly report on Form 10-Q for the quarter ended September 30, 2010 to be filed with the SEC.
All forward-looking statements contained in this press release are expressly qualified by the above paragraph in their entirety. These forward-looking statements speak only as of the date of this press release (unless another date is indicated). Alimera undertakes no obligation, and specifically declines any obligation, to publicly update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Fleishman-Hillard for Alimera Sciences Katie Brazel +1 404-739-0150 firstname.lastname@example.org