Alimera Sciences, CDS develop DME treatment

Atlanta-Alimera Sciences Inc. and Control Delivery Systems Inc. (CDS) will work together to develop and market a pharmacologic treatment for diabetic macular edema (DME).

The potential treatment involves injecting a tiny implant into the vitreous via a 25-gauge needle. The implant is designed to deliver a drug to the back of the eye for up to 3 years. The companies are working with the FDA to initiate clinical trials to determine its effectiveness as an alternative to laser photocoagulation therapy.

The deal also gives Alimera Sciences the option to develop three additional products with CDS' drug delivery technology.

Meanwhile, Alimera Sciences has named Phil Tracy as chairman of its board of directors. Tracy was president and chief executive officer of Burroughs Wellcome Co. from 1989 to 1995, when the pharmaceutical company boasted $1.2 billion in sales and 5,000 employees prior to its 1995 merger with Glaxo Inc. He is a venture partner with Intersouth Partners, and has been a member of Alimera Sciences' board of directors since July.