Tuesday, October 26, 2010

Omeros Gets $25M

Seattle-based Omeros Corporation, the biopharmaceuticals firm focused on treating inflammation and disorders of the central nervous system, said yesterday that it has raised $25M, including $20M from Vulcan Capital, and $5M in a grant from the Washington State Life Sciences Discovery Fund. The firm said the new funding go towards advancement of its G protein-coupled receptor (GPCR) program. The firm also said it has agreed to provide a percentage of net proceeds generated by its GPCR program to Vulcan Capital and LSDF; the deal also includes warrants for Vulcan to purchase shares at various prices. Omeros said it will use part of the new funding to purchase patents and intellectual property rights to certain GPCR assay technology from Patobios Limited. Omeros is publicly held. More information »