Alimera Sciences, a biotech with a ophthalmic treatment (Iluvien) undergoing two Phase 3 pivotal clinical trials, announced terms for its IPO on Tuesday. The Alpharetta, GA-based company plans to raise $96 million by offering 6 million shares at a price range of $15-$17. At the mid-point of the proposed range, Alimera will command a market value of $488 million. Alimera Sciences, which was founded in 2003 and has yet to generate product revenue, plans to list on the NASDAQ under the symbol ALIM. Credit Suisse and Citi have been selected as book-running managers for the IPO, which is expected to price during the week of April 19th.
