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Alimera closes an additional $5 million in round of Series C funding

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ATLANTA — Alimera Sciences has closed a $5 million extension of a round of Series C financing originally completed in March 2008, the company announced.

Accordingly, the purchasers of the $5 million in preferred stock have been issued warrants for an additional $10 million in Series C preferred stock. All warrant holders will have up to 30 days after receiving top-line data from Alimera's phase 3 pharmacokinetic trial of its Iluvien implant for treating diabetic macular edema to exercise the warrants, according to the release.

If the majority of warrant holders choose to exercise the warrants, then all warrant holders will be obligated to exercise their warrants in full.

Alimera expects to receive phase 3 top-line data for its Iluvien study in December.