Alimera Sciences: Rises on license agreement, investment from Ocumension Therapeutics

Ocumension Therapeutics

14/04/2021 14:54

** Shares of eye drug developer Alimera Sciences Inc
 ALIM.O  rise 12.5% to an over one-year high of $11.61
    ** China-based Ocumension Therapeutics signs a license
agreement with ALIM for its injectable eye implant product to
treat diabetic macular edema - a complication from diabetes that
causes vision loss  urn:newsml:reuters.com:*:nGNX1LtMSC
    ** ALIM says it may receive a total of up to $99 mln,
including an upfront payment of $10 mln and a potential $89 mln
in sales-based milestone payments
    ** Ocumension to receive exclusive rights to develop and
commercialize the product under its own branded label in
Mainland China and other countries  - Co
    ** Says Ocumension has also made a $10 mln equity investment
in co via a private offering 
    ** ALIM more than doubled in value YTD, as of its last close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))