Navigation Links
Omeros Receives $3.1 Million Milestone Payment from The Stanley Medical Research Institute for Schizophrenia Program

SEATTLE, Jan. 28 /PRNewswire/ -- Omeros Corporation today announced that it was awarded $3.1 million in a second tranche of equity and grant funding from The Stanley Medical Research Institute (SMRI) to support late-stage preclinical development of the Company's proprietary product candidates for the treatment of schizophrenia. The funds serve as a milestone payment to Omeros for having successfully met preclinical compound optimization criteria. Omeros' schizophrenia product candidates inhibit the phosphodiesterase 10 (PDE10) enzyme.

"The award of this milestone payment reaffirms the strength of the preclinical data generated by our schizophrenia program," said Gregory A. Demopulos, M.D., Chairman and CEO of Omeros. "We believe that our program could provide product candidates that have benefits not offered by existing anti-psychotics, and we are working to advance into clinical trials next year."

In December 2006, Omeros entered into an agreement with SMRI to develop Omeros' PDE10 inhibitors through Phase 1 clinical trials. Under the agreement, Omeros may receive a total of up to $9 million in grant and equity funding from SMRI. Omeros previously announced the receipt of a first tranche of grant and equity funding, $2.6 million, upon the initiation of the agreement with SMRI.

About Schizophrenia

Schizophrenia is a chronic, severe and disabling brain disorder that affects about one percent of the population worldwide. It is characterized by delusions, hallucinations, disorganized communication, reduced motivation and flattened affect. Schizophrenia has a significant impact on global disease burden as a consequence of early adult onset, and a significant sub-population (approximately two-thirds) of patients experience continued symptoms despite treatment. The problem with current therapies is that none of them improve the cognitive deficit in schizophrenic patients, and almost all of these drugs have significant side effects, such as weight gain, induction of tremors and psychological depression.

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 clinically advanced product candidates are derived from its proprietary PharmacoSurgeryTM platform designed to improve clinical outcomes of patients undergoing arthroscopic, ophthalmological, urological and other surgical and medical procedures. Omeros has four ongoing PharmacoSurgeryTM 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 the Company's Web site at

About SMRI

The Stanley Medical Research Institute (SMRI) is a nonprofit organization that supports research on the causes and treatment of schizophrenia and bipolar disorder (manic-depressive illness), both through work carried out in its own laboratories and through support of researchers worldwide who are working on these diseases. SMRI has provided over $200 million in funding since 1989. Schizophrenia and bipolar disorder are major psychiatric disorders in the United States, affecting more than 4 million people.

SOURCE Omeros Corporation
Copyright©2009 PR Newswire.
All rights reserved

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. Reclast(R) Receives US FDA Approval as First and Only Once-Yearly Treatment for Women With Postmenopausal Osteoporosis
6. Indevus Receives Approvable Letter From FDA for VALSTAR(R) for Bladder Cancer Therapy
7. Auxilium Pharmaceuticals, Inc. Receives Clearance to Resume Clinical Trials for XIAFLEX(TM)
8. Abbott Receives Supplemental FDA Approval for its Best-in-Class in Sensitivity RealTime HIV-1 Viral Load Test
9. GlaxoSmithKline Receives New HHS Order for H5N1 Bulk Antigen. First North American Clinical Trials with GSKs Candidate Pre-pandemic Flu Vaccine to Start.
10. CryoCor Receives FDA Approval for Right Atrial Flutter
11. Ranbaxy Receives Approval to Manufacture and Market Hydrocodone Bitartrate and Acetaminophen Tablets USP
Post Your Comments:
(Date:12/1/2015)... Dec. 1, 2015 Relmada Therapeutics, Inc. (OTCQB: RLMD), ... chronic pain, announced today that the company will present at ... December 1-3 at the Luxe Sunset Boulevard Hotel in ... CEO of Relmada Therapeutics, will present on Thursday, December 3, ... . Please register at least 10 minutes prior ...
(Date:12/1/2015)... , Dec. 1, 2015 CytRx Corporation (NASDAQ: ... specializing in oncology, today announced that it has reached ... pivotal global Phase 3 clinical trial of aldoxorubicin in ... originally estimated to be completed in Q1 2016. The Phase ... under a Special Protocol Assessment from the FDA at ...
(Date:12/1/2015)... , Dec. 1, 2015  Today, ... the launch of CareFront, a first-of-its-kind population health ... diagnosed with cancer. Designed to be built into ... cancer patients with resources for their care and ... program also offers tools to help patients understand ...
Breaking Medicine Technology:
(Date:12/1/2015)... , ... December 01, 2015 , ... ... has announced its acquisition by Jordan Industries International, LLC (“JII”). , With support ... equipment rentals and maintenance services to hospitals, surgery centers, clinics, research labs and ...
(Date:12/1/2015)... ... December 01, 2015 , ... According to an article published ... discrimination claim against the U.S. Department of Health and Human Services, claiming that any ... plans are breaking the clause in the law prohibiting the denial of coverage for ...
(Date:12/1/2015)... , ... December 01, 2015 , ... ... leadless pacemakers in the U.S. and is the only hospital in the region ... largest clinical data presentation of transcatheter pacing patients were revealed recently at a ...
(Date:12/1/2015)... ... December 01, 2015 , ... Dr. Paul Vitenas, one ... Surgery, has been named by MedEsthetics magazine as the Best Single Physician Practice in ... among the many elite aesthetic physicians honored by the industry publication. , Dr. ...
(Date:12/1/2015)... ... December 01, 2015 , ... Growth in medical payments per ... decreases in utilization of hospital and nonhospital care, according to a recent study by ... for Louisiana, 16th Edition , found medical payments per claim with more than seven ...
Breaking Medicine News(10 mins):