Alimera Sciences Refinances Debt with $40 Million Loan

January 12, 2018: By Jon Swedien

Alimera Sciences has entered into a $40 million term loan agreement with Solar Capital and will use the money to pay off an existing $35 million term loan and to provide additional working capital for general corporate purposes, the company announced Jan. 8.

Dan Myers, Alimera’s CEO, said the deal will eliminate “the restrictive liquidity covenants” in the company’s existing loan, unlocking more working capital to invest in the business.

The Alpharetta, Georgia, company markets Iluvien (fluocinolone acetonide intravitreal implant) 0.19 mg for diabetic macular edema and is developing additional products for retinal disease.

Alimera announced Jan. 4 that it received acceptance of its submission to expand Iluvien’s label in Europe to recurrent and persistent non-infectious uveitis affecting the posterior segment.

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