Under the new agreement, Alimera is increasing its equity in the future profits of Medidur(TM) FA from 50 to 80%. Alimera paid to pSivida an up-front payment of $12 million and issued a $15 million note. Additionally, Alimera will pay a $25 million milestone payment upon approval of Medidur(TM) FA and will assume pSivida remaining funding of research and development activities, estimated at approximately $20 million.

Today, Alimera also announced that it will complete the licensing of the Medidur(TM) technology for use NADPH (nicotinamide adenine dinucleotide phosphate reducted form) oxidase inhibitors recently from Emory University.

Alimera is conducting a phase 3 to evaluate fluocinolone acetonide (FA) in the Medidur(TM) drug delivery system for the treatment of diabetic macular edema.

Source: Alimera Sciences, Inc.; pSivida Limited