Alimera, a Georgia-based drug development firm, eyes IPO

ALPHARETTA, Ga. — Alimera, which is backed by Intersouth Partners, is hoping to end the drought on venture capital-backed firms going public.

The firm, which focuses on ophthalmic pharmaceuticals, has filed for an initial public offering worth $75 million, Private Equity Wire and VentureWire reported Wednesday.

If Alimera executes the IPO successfully its stock would trade on the Nasdaq under the symbol ALIM.

The IPO filing came three months after Alimera raised $30 million in a C round of funding.

Intersouth, which is based in Durham, N.C., owns some 18.3 percent of Alimera, according to PE Wire.

Other financial backers include Scale Venture Partners, Polaris Venture Partners and Venrock Associates.

No venture-backed firms went public in the second quarter this year, and only five have done so through the first half of 2008.

Alimera, which launched in 2004, has raised more than $71 million in venture funding.