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Omeros Responds to Misleading Announcement by Davis Wright Tremaine Concerning Settlement with Former Chief Financial Officer
Date:11/9/2012

p>During Mr. Klein's employment with Omeros, he used Omeros' Whistleblower Policy procedures to report to the chairman of Omeros' audit committee that the Company had submitted reimbursement claims to the NIH in connection with the grant for work that Omeros had not performed. Omeros' audit committee, with independent outside counsel, thoroughly investigated Mr. Klein's allegations and the Company's NIH grant and claims procedures. The facts gathered by this investigation demonstrate that Omeros underbilled – not overbilled – the NIH in connection with the grant.  In May 2009, Omeros voluntarily reported to the NIH's Office of Compliance the Company's handling of Mr. Klein's whistleblow allegation and the nature of its research under the grant.

Mr. Klein subsequently presented his claims to the U.S. government, which declined to intervene in his case following its investigation of those claims. The written evidence shows that the NIH officials who reviewed Omeros' voluntary report acknowledged in 2009 that the Company had satisfactorily addressed the matter. An NIH scientist charged with managing the grant also testified that the research performed by Omeros represented a very valuable scientific advancement.  In addition, the same NIH institute that awarded the grant that was the subject of Mr. Klein's allegations recently awarded Omeros a new grant in support of the Company's research.

About Omeros Corporation
Omeros is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products targeting inflammation, coagulopathies and disorders of the central nervous system. The Company's most clinically advanced product candidates are derived from its proprietary PharmacoSurgery™ platform designed to improve clinical outcomes of patients undergoing a wide range of surgical and medical procedures. Omeros has four ongoing clinical development programs. Omeros may also have the near-te
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