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Omeros Corporation Reports Fourth Quarter and Year-End 2010 Financial Results
Date:3/15/2011

urological product candidate OMS201 and the initiation of a program to advance a promising new antifibrinolytic agent to control surgical and traumatic bleeding," said Gregory A. Demopulos, M.D., chairman and chief executive officer of Omeros. "While our primary focus remains on reporting data from our OMS103HP Phase 3 ACL program later this quarter, we also look forward to reporting data from our Phase 2b ophthalmology trial of OMS302 in the coming weeks."

Fourth Quarter and Recent Highlights

  • Omeros received $20.0 million from Vulcan and a grant award for $5.0 million from the Life Sciences Discovery Fund of Washington State (LSDF) to support the advancement of the Company's GPCR program. In return, Vulcan and LSDF have a right to receive a percentage of net proceeds generated by the GPCR program. The Vulcan funding was obtained upon closing of the agreement; the LSDF funding will be drawn down as reimbursement for future qualified expenses.
  • Expanded its exclusive license to phosphodiesterase 7 (PDE7) inhibitors from Daiichi Sankyo Co., Ltd. to include the fields of addiction and compulsive disorders. Currently, Omeros is advancing PDE7 inhibitors for these indications as well as for movement disorders in collaboration with the National Institute on Drug Abuse and The Michael J. Fox Foundation, respectively.
  • Reported positive results from the Phase 1/Phase 2 clinical trial of OMS201, demonstrating that OMS201 was safe and well tolerated. OMS201 is the Company's PharmacoSurgery™ product candidate for use in urology.
  • Evaluated proof-of-concept models, and generated successful in vitro data, in connection with the series of compounds identified by Omeros that are functionally active at GPR87, an orphan GPCR linked to squamous cell carcinoma recently unlocked for drug development by the Company.
  • Announced the identification of compounds that interact selectively with two orphan GPCRs linked to pancreatic can
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    Related medicine technology :

    1. Omeros Announces Initiation of Patient Enrollment in OMS201 Phase 1 Study
    2. Omeros Announces Publication of Clinical Results for OMS103HP in Arthroscopy: The Journal of Arthroscopic and Related Surgery
    3. Omeros Announces Patient Enrollment in Phase 1/Phase 2 Study of OMS302
    4. Omeros and The Parkinsons Institute and Clinical Center Enter into a Collaboration Agreement to Evaluate Novel Target for the Treatment of Movement Disorders
    5. Omeros Receives $3.1 Million Milestone Payment from The Stanley Medical Research Institute for Schizophrenia Program
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