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8-K - FORM 8-K - OMEROS CORP | v55176e8vk.htm |
Exhibit 99.1
Omeros Licenses PDE7 Compounds for Parkinsons Disease Program
Seattle, Washington March 9, 2010 Omeros Corporation (Nasdaq: OMER) today announced that
it has obtained an exclusive license to compounds from Asubio Pharma Co., Ltd. for use in its PDE7
program, which is focused on the treatment of movement disorders. Omeros has demonstrated a
previously unknown link between phosphodiesterase-7 (PDE7) and movement disorders such as
Parkinsons disease and Restless Legs Syndrome. The agreement with Asubio gives Omeros an expedited
path to the clinic by providing advanced preclinical product candidates that are ready for
additional toxicology studies in preparation for a Phase 1 clinical trial.
We are pleased to have accessed these PDE7 inhibitors. Omeros has already conducted
successful preclinical studies with them, and has identified which in-licensed candidate we plan to
move forward into clinical trials, stated Gregory Demopulos, M.D., chairman and chief executive
officer of Omeros. We expect that our first clinical program will target Parkinsons disease and,
assuming continued preclinical progress, that we will be able to file an investigational new drug
(IND) application to begin a Phase 1 clinical trial in 2011.
Under the agreement, Omeros is responsible for clinical and commercial milestone payments to
Asubio. Omeros would also pay a single-digit royalty to Asubio upon potential sale of the products
named in the agreement.
About Omeros PDE7 Program
Omeros PDE7 program is based on a previously unknown link between PDE7 and any movement
disorder such as Parkinsons disease and Restless Legs Syndrome. Based on promising preclinical
animal data in a model of Parkinsons disease showing efficacy of PDE7 inhibitors equivalent to
that of levodopamine, the Company is advancing proprietary compounds for the treatment of movement
disorders. Levodopamine has been the standard treatment for Parkinsons disease for nearly 40 years
but is associated with severe side effects including dyskinesias, hallucinations, sleep disorders
and cognitive impairment. Omeros PDE7 inhibitors may have the ability to avoid one or more of
these side effects. The Michael J. Fox Foundation has been a supporter of this program, having
provided grant funding of $464,000 to Omeros to date.
About Parkinsons Disease
Parkinsons disease is a progressive, degenerative disorder of the central nervous system that
can impair a persons motor skills, speech and other functions. The disease is characterized by
tremors, muscle rigidity and the slowing of physical movement. It is chronic and progressive and
affects approximately one million people in the United States. There is currently no cure for
Parkinsons disease.
About Asubio Pharma Co., LTD.
Asubio Pharma is a research oriented biopharmaceutical company and a wholly owned subsidiary
of Daiichi Sankyo Co., Ltd., headquartered in Japan. Asubio focuses on research and development of
innovative ethical drugs in the field of inflammation, regeneration and differentiation. Asubio has
cutting-edge technologies for innovating first-in-class small molecule medicines, peptide medicines
and stem cell-derived medicines for tissue regeneration.
About Omeros Corporation
Omeros is a clinical-stage biopharmaceutical company committed to discovering, developing and
commercializing products focused on inflammation and disorders of the central nervous system. The
Companys 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 five ongoing clinical development programs,
including four from its PharmacoSurgery platform and one from its Addiction program, the most
advanced of which is in Phase 3 clinical trials. Omeros may also have the near-term capability,
through
its GPCR program, to add an unprecedented number of wholly new drug targets to the market.
Behind its clinical candidates and GPCR platform, Omeros is building a diverse pipeline of antibody
and small-molecule preclinical programs targeting inflammation and central nervous system
disorders.
Forward-Looking Statements
This press release contains forward-looking statements as defined within the Private Securities
Litigation Reform Act of 1995, which are subject to the safe harbor created by those sections.
These statements include, but are not limited to, statements regarding the Companys ability to
file an IND in 2011 and to begin a Phase 1 clinical trial for Parkinsons disease. Forward-looking
statements are based on managements beliefs and assumptions and on information available to
management only as of the date of this press release. Omeros actual results could differ
materially from those anticipated in these forward-looking statements for many reasons, including,
without limitation, the risks, uncertainties and other factors described under the heading Risk
Factors in the Companys Quarterly Report on Form 10-Q filed with the Securities and Exchange
Commission on November 19, 2009. Given these risks, uncertainties and other factors, you should not
place undue reliance on these forward-looking statements, and the Company assumes no obligation to
update these forward-looking statements publicly, even if new information becomes available in the
future.
Contact:
Jennifer Cook Williams
Cook Williams Communications, Inc.
360-668-3701
jennifer@cwcomm.org
Jennifer Cook Williams
Cook Williams Communications, Inc.
360-668-3701
jennifer@cwcomm.org
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