Omeros Announces Enrollment in Phase 1 Clinical Trial Evaluating OMS824

   Omeros Announces Enrollment in Phase 1 Clinical Trial Evaluating OMS824

-- Data Expected Before Year End --

PR Newswire

SEATTLE, Nov. 1, 2012

SEATTLE, Nov. 1, 2012 /PRNewswire/ -- Omeros Corporation (NASDAQ: OMER) today
announced that the first subject has been enrolled in the Company's Phase 1
clinical trial evaluating OMS824, the lead compound in Omeros'
phosphodiesterase 10 (PDE10) program. OMS824 selectively inhibits PDE10, an
enzyme expressed in areas of the brain linked to a wide range of diseases that
affect cognition, including schizophrenia and Huntington's disease. This
Phase 1 dose-ranging study is evaluating the drug's safety, tolerability and
pharmacokinetics in healthy subjects, and Omeros expects clinical data before
year end.

"We are excited that we have begun evaluating OMS824 – our first compound
developed entirely in house – in humans," said Gregory A. Demopulos, M.D.,
chairman and chief executive officer of Omeros. "Our PDE10 program represents
our fourth active clinical program, and the two in Phase 3 trials are poised
to read out data this quarter. We are also continuing to advance our
preclinical pipeline, and currently three more programs are slated to enter
the clinic in 2013."

About Omeros' PDE10 Program
PDE10 is an enzyme that is expressed in areas of the brain linked to diseases
that affect cognition, including schizophrenia and Huntington's disease.
Cognitive dysfunction occurs early in these diseases and is responsible for
substantial disability. Omeros' proprietary compound OMS824 inhibits PDE10 and
is being developed for the treatment of cognitive disorders, including
schizophrenia where OMS824 could also have a beneficial effect on the positive
(e.g., hallucinations) and negative (e.g., flat affect) symptoms of the
disease.

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-term capability, through
its GPCR program, to add a large number of new drug targets and their
corresponding compounds to the market. Behind its clinical candidates and GPCR
platform, Omeros is building a diverse pipeline of protein and small-molecule
preclinical programs targeting inflammation, coagulopathies 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, Omeros' expectations regarding when it will announce data from its
Phase 1 clinical trial evaluating OMS824 as well as its two ongoing Phase 3
clinical programs; the number of preclinical programs that may enter the
clinic in 2013; and that Omeros may have capability, through its GPCR program,
to add a large number of new drug targets and their corresponding compounds to
the market. Forward-looking statements are based on management's 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 Company's Quarterly Report on Form 10-Q
filed with the Securities and Exchange Commission on August 7, 2012. 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.

SOURCE Omeros Corporation

Contact: Jennifer Cook Williams, Cook Williams Communications, Inc., Investor
and Media Relations, +1-360-668-3701, jennifer@cwcomm.org
 
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