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Omeros Corporation Reports Third Quarter 2009 Financial Results and Development Highlights
Date:11/19/2009

all intellectual property rights to an assay for use in the Company's GPCR program. As a result of the amendment, Omeros now has the right to de-orphanize at least three orphan GPCRs using the assay without having to immediately purchase the associated intellectual property from Patobios for the $10.8 million CAD purchase price, and Omeros can also grant to third parties development and/or commercialization rights to those de-orphanized GPCRs. Under the amendment, Omeros will be required to pay Patobios a one-time $500,000 CAD de-orphanization milestone payment instead of the $10.8 million CAD purchase price, with the $500,000 CAD milestone payment credited in full against the purchase price if Omeros acquires the assets.

Conference Call and Webcast Today at 5:00 p.m. Eastern Time

The Omeros management team will host a conference call today, November 19, at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time), to discuss the Company's third quarter 2009 financial results and development highlights. Interested parties may participate in the conference call by dialing 877-795-3638 (Domestic) or 719-325-4891 (International). To access the webcast, please go to the Company's website at www.omeros.com and go to the "Events" section of the "Investors" page to log on.

A replay of the webcast will be available on the website for one week following the call. A telephone replay will also be available from 7:00 p.m. Eastern Time on November 19 through 11:59 p.m. Eastern Time on November 22 by dialing 888-203-1112 (Domestic) or 719-457-0820 (International) and entering conference ID number 4396920.

About Omeros Corporation

Omeros Corporation is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products focused on inflammation and disorders of the central nervous system. Omeros' most clin
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