The license grants Ocumension the rights to develop and commercialize the implant to treat diabetic macular edema and other retina diseases (excluding uveitis) in the Greater China territory and other Western Pacific countries under Ocumension's distinctive trademark.
Under the terms of the agreement, Alimera may receive a total of up to $99 million, including an upfront payment of $10 million and a potential $89 million in sales-based milestone payments.
Additionally, Ocumension has made a $10 million equity investment in Alimera via a private offering.
Ocumension has purchased around 1.4 million Alimera's shares at $8.73 per share, or $10 million in total.
Alimera will also be the exclusive supplier of the product to Ocumension for commercial sale at an agreed-upon transfer price.
Fluocinolone acetonide intravitreal implant is marketed as Iluvien and is injected into the back of the eye.
Price Action: ALIM shares are trading 0.97% higher at $10.42 during the market trading session on the last check Wednesday.
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