Omeros Corporation Announces Royalty Monetization Transaction with DRI Healthcare Trust - Seite 2

Royalty payments, as received from Rayner, will be allocated between Omeros and DRI each month based on the amount to which DRI is entitled. Monthly caps are determined by dividing the annual cap amount by 12 or, in the case of the partial calendar year 2022, by four.

“We are pleased to have partnered with DRI to monetize a portion of our OMIDRIA royalty stream,” said Gregory A. Demopulos, M.D., chairman and chief executive officer of Omeros. “The transaction provides Omeros with a substantial capital infusion that is repayable over the next eight and a half years solely from future OMIDRIA royalties, retains the majority of our expected OMIDRIA revenues, and does not dilute our stockholders.”

The Purchased Receivables do not include, and DRI is not entitled to, any portion of the $200 million commercial milestone payment payable to Omeros under the Asset Purchase Agreement if, before January 1, 2025, separate payment for OMIDRIA under Medicare Part B is secured for a continuous period of at least four years.

OMIDRIA has been granted separate payment in ambulatory surgery centers by the Centers for Medicare and Medicaid Services (CMS) under CMS’ non-opioid alternative pain management exclusion from packaged payment. The most recently reported quarterly net revenues for OMIDRIA were $34.5 million for the quarter ended June 30, 2022, on which Omeros earned a 50-percent royalty, or $17.2 million, from Rayner.

About Omeros Corporation

Omeros is an innovative biopharmaceutical company committed to discovering, developing and commercializing small-molecule and protein therapeutics for large-market and orphan indications targeting immunologic disorders including complement-mediated diseases, cancers, and addictive and compulsive disorders. Omeros’ lead MASP-2 inhibitor narsoplimab targets the lectin pathway of complement and is the subject of a biologics license application (BLA) pending before FDA for the treatment of hematopoietic stem cell transplant-associated thrombotic microangiopathy (HSCT-TMA). Narsoplimab is also in multiple late-stage clinical development programs focused on other complement-mediated disorders, including IgA nephropathy, COVID-19, and atypical hemolytic uremic syndrome. Omeros’ long-acting MASP-2 inhibitor OMS1029 is currently in a Phase 1 clinical trial. OMS906, Omeros’ inhibitor of MASP-3, the key activator of the alternative pathway of complement, is advancing in clinical programs for paroxysmal nocturnal hemoglobinuria (PNH), complement 3 (C3) glomerulopathy and one or more related indications. For more information about Omeros and its programs, visit www.omeros.com.