has issued

Series A Convertible

Preferred Stock

to an investor group led by




Alimera is a specialty
pharmaceutical firm.

The undersigned acted as financial advisor to Alimera Sciences in this Transaction

Alimera Sciences

Description

Alimera is a specialty pharmaceutical company focused on licensing and selling over-the-counter (OTC) as well as prescription drugs in the ophthalmic industry. While OTC products generate early revenues, the long-term prescription drug strategy focuses on the sales and marketing of in-licensed products, which allows Alimera to outsource much of the time-intensive, high-risk development and clinical trial process and focus its human capital on sales and marketing.

Situation

Dan Meyers, the CEO of Alimera Sciences, led a highly-experienced management team that had started and built a $250 million ophthalmology pharmaceuticals division for a large international pharmaceutical company. Not wanting to accept the parent company’s proposal to move to the Northeast, Dan and his team approached Croft & Bender with a plan to replicate that success in a new company. As advisor, we were hired to draft the offering memorandum, contact multiple investors on a national basis with an interest in specialty pharmaceuticals, and analyze, structure, and negotiate a transaction for the necessary capital.

Result

Croft & Bender successfully raised capital from a syndicate of industry-experienced investors that included InterSouth Partners, Domain Associates, Polaris Venture Partners, and BA Ventures. C&B Capital also participated in the transaction, which was one of the largest initial venture capital life sciences financings ever in the Southeast.