- Alimera grants exclusive license to Ocumension for a
$10 million upfront payment and up to$89 million in additional sales-based milestone payments - Ocumension makes a $10 million equity investment in Alimera
Under the terms of the exclusive license agreement, Alimera may receive a total of up to
“We are excited about this opportunity with Ocumension to continue our strategy of geographic expansion. Diabetes and its complications are a growing issue, with a third of the total number of people with diabetes living in the Western Pacific1. We look forward to working with Ocumension to help patients suffering from diabetic macular edema in these markets to see better, longer, with fewer injections,” said
“Our agreement with Alimera allows us to expand our ophthalmology product portfolio with another best-in-class, unique and proven ophthalmic therapy to address the unmet need of durable therapy in the treatment of diabetic macular edema,” said Ye Liu, Chief Executive Officer of Ocumension.
Under the terms of a share purchase agreement, Ocumension has purchased 1,144,945 shares of Alimera’s common stock at a price of approximately
Ocumension has agreed to issue to Alimera 1,000,000 non-transferable warrants granting Alimera the right for a period of four years to subscribe to up to an aggregate of 1,000,000 shares of Ocumension stock at the subscription price of
For more details on the terms of the Ocumension transactions, please see Alimera’s Current Report on Form 8-K, which Alimera expects to file with the
1 Data from the
About ILUVIEN
www.ILUVIEN.com
The Company’s sole product is ILUVIEN (fluocinolone acetonide intravitreal implant) 0.19 mg sustained release intravitreal implant, injected into the back of the eye. With its CONTINUOUS MICRODOSING™ technology, ILUVIEN is designed to release sub-microgram levels of fluocinolone acetonide, a corticosteroid, for 36 months, to reduce the recurrence of disease and number of treatments required, enabling patients to maintain vision longer with fewer injections. ILUVIEN is approved in the
About Diabetic Macular Edema (DME)
DME, the primary cause of vision loss associated with diabetic retinopathy, is a disease affecting the macula, the part of the retina responsible for central vision. When the blood vessel leakage associated with diabetic retinopathy results in swelling of the macula, the condition is called DME. The onset of DME is painless and may go unreported by the patient until it manifests with the blurring of central vision or acute vision loss. The severity of this blurring may range from mild to profound loss of vision. The Wisconsin Epidemiologic Study of Diabetic Retinopathy found that over a 10-year period approximately 19% of people with diabetes included in the study were diagnosed with DME. All people with type 1 or type 2 diabetes are at risk of developing DME.
About
www.alimerasciences.com
About Ocumension Therapeutics
Ocumension Therapeutics is a
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 expectations with respect to its relationship with Ocumension. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual results to 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, Ocumension’s ability to satisfy the regulatory requirements to be able to sell the licensed product in the countries and jurisdictions within the license territory and to successfully commercialize the product in those countries and jurisdictions.
All forward-looking statements contained in this press release are expressly qualified by the cautionary statements contained or referred to herein. Alimera cautions investors not to rely too heavily on the forward-looking statements Alimera makes or that are made on its behalf. 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.
For Alimera press inquiries: for 917-885-7378 julesa@coreir.com | For Alimera investor inquiries: for scottg@coreir.com |
Ocumension Contact: Qinglei Zuo +86-21-68362137-7796 qinglei.zuo@ocumension.com |
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