SEATTLE and CHICAGO, Sept. 24 /PRNewswire/ -- Omeros Corporation, a Seattle-based biopharmaceutical company, today announced the establishment of a $20 million debt facility with BlueCrest Capital Finance. The facility consists of a $5 million term loan drawn by Omeros at closing and the right, subject to certain conditions, to access up to the remaining $15 million. Other terms were not disclosed.
"This credit facility provides us with increased financial flexibility as we continue to expand our clinical programs and advance our deep preclinical pipeline," said Gregory A. Demopulos, M.D., Chairman and CEO of Omeros. "The BlueCrest team has a strong track record, and agreed to terms that meet our business objectives."
"Our decision to make a significant investment in Omeros was driven by the quality of its management team, program portfolio, intellectual property and business strategy," said Chris York, Managing Director of BlueCrest Capital Finance. "We are excited to be working with Omeros and look forward to the Company's future achievements."
About Omeros Corporation
Omeros is a clinical-stage biopharmaceutical company committed to
discovering, developing and commercializing products focused on
inflammation and central nervous system disorders. Omeros' most clinically
advanced product candidates are derived from its proprietary
PharmacoSurgery(TM) platform designed to improve clinical outcomes of
patients undergoing arthroscopic, ophthalmological, urological and other
surgical and medical procedures. Omeros has four ongoing
PharmacoSurgery(TM) clinical development programs and its lead product
candidate, OMS103HP, is being evaluated in Phase 3 clinical trials for use
during arthroscopic surgery to improve postoperative joint function and
reduce postoperative pain. Omeros is also building a diverse pipeline of
preclinical programs targeting inflammation and central nervous system
disorders. For more information on Omeros, visit
|SOURCE Omeros Corporation|
Copyright©2008 PR Newswire.
All rights reserved