Navigation Links
Omeros Receives $3.1 Million Milestone Payment from The Stanley Medical Research Institute for Schizophrenia Program
Date:1/28/2009

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 www.omeros.com.

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:
*Name:
*Comment:
*Email:
(Date:6/2/2017)... June 2, 2017  NxStage Medical, Inc. (Nasdaq:  NXTM), a leading ... announced new findings demonstrating positive biochemical outcomes related to ... One™. The data will be presented at the ERA-EDTA ... Madrid, Spain . The research ... Dialysis Network in Europe ...
(Date:5/30/2017)... -- DarioHealth Corp. (NASDAQ: DRIO), a leading global digital health company ... will be presenting at the 7th annual LD Micro Invitational on ... , CEO, of DarioHealth will be giving the presentation and meeting ... 6th & 7th, 2017 at the Luxe Sunset Bel Air Hotel ... About LD Micro LD Micro ...
(Date:5/30/2017)... 2017 Therapix Biosciences Ltd. (Nasdaq: TRPX), ... the development of cannabinoid-based drugs, today announced that ... at three upcoming scientific and investor conferences in ... Invitational: ...                     Wednesday, June ...
Breaking Medicine Technology:
(Date:6/27/2017)... ... 27, 2017 , ... Two residents from the Gardant-managed assisted living and memory ... to encourage lawmakers to protect Medicaid funding. , The video, which was produced by ... story of Chuck and Cathy Schwarz, a couple who is still able to see ...
(Date:6/27/2017)... ... June 27, 2017 , ... Dr. Richard Amato, a respected ... his practice, Advanced Periodontics and Dental Implant Center of Connecticut. As part of the ... waiting areas. The renovations are intended to improve patient comfort while making it possible ...
(Date:6/27/2017)... ... ... Children’s National Health System received top honors in the 2017-18 U.S News & ... of more than 1500 neonatal intensive care units coast to coast. Children’s ... the top performing children’s hospitals in the country. , In addition to achieving ...
(Date:6/26/2017)... ... June 26, 2017 , ... Maryland’s soybean farmers have improved ... released by the United Soybean Board. , Thanks to the responsible use ... their productivity on less land per bushel, the report says. The United Soybean ...
(Date:6/26/2017)... ... ... New patients with missing teeth in Fitchburg, WI, can now ... Cotey is a trusted dentist who has placed many dental implants and enjoys teaching ... teeth in Fitchburg, WI, are encouraged to find out if they are candidates for ...
Breaking Medicine News(10 mins):