Alimera Sciences Inc., of Atlanta, said its UK subsidiary entered a loan and security agreement with Hercules Technology Growth Capital Inc. for a term loan in the principal amount of up to $35 million. Under the agreement, Hercules is advancing $10 million to Alimera Sciences Ltd. and will advance the remaining $25 million in the event the FDA approves intravitreal insert Iluvien (fluocinolone acetonide) for diabetic macular edema on or before Oct. 31, 2014, and certain other conditions are satisfied. Proceeds of the initial $10 million will be used to pay off an existing term loan payable to Silicon Valley Bank and to provide additional working capital for general corporate purposes. Alimera, which licensed rights to Iluvien from Psivida Corp., of Watertown, Mass., reported earlier this month that the FDA had set a PDUFA date of Sept. 26, 2014, after acknowledging receipt of the company’s response to the October 2013 complete response letter.

Radius Health Inc., of Cambridge, Mass., set terms for its proposed initial public offering (IPO), seeking to offer 5 million shares priced between $14 and $16, which would result in gross proceeds of $75 million at the midpoint price. The company, which is developing treatments to restore bone density in osteoporosis patients, filed its S-1 earlier this year, initially seeking to raise $86.25 million in the IPO and gain a listing on Nasdaq under the ticker RDUS. Jefferies and Cowen and Co. are acting as joint bookrunners. (See BioWorld Today, Feb. 28, 2014.)