Omeros to Present Data from Successful OMS302 Phase 3 Clinical Trial at the American Academy of Ophthalmology Annual Meeting

 Omeros to Present Data from Successful OMS302 Phase 3 Clinical Trial at the
               American Academy of Ophthalmology Annual Meeting

PR Newswire

SEATTLE, Nov. 8, 2012

SEATTLE, Nov. 8, 2012 /PRNewswire/ --Omeros Corporation (NASDAQ: OMER) today
reported that it will present data from its first pivotal Phase 3 clinical
trial evaluating OMS302 at the American Academy of Ophthalmology (AAO) Annual
Meeting, which will take place from November 10 through November 13 in
Chicago, Illinois.

OMS302, added to standard irrigation solution used during ophthalmological
procedures, is Omeros' proprietary PharmacoSurgery™ product designed to
maintain intraoperative mydriasis and reduce postoperative pain and irritation
resulting from cataract and other lens replacement surgery. Omeros announced
earlier this week that OMS302 met its co-primary endpoints in its second
pivotal Phase 3 clinical trial. Now with positive data from both trials in the
OMS302 Phase 3 clinical program, Omeros' objective is to submit a New Drug
Application (NDA) with the U.S. Food and Drug Administration in the first
quarter of 2013 and a Marketing Authorization Application (MAA) with the
European Medicines Agency in mid-2013.

The AAO presentation information is as follows:

  oAbstract Title: "A Phase 3 Clinical Trial of the Drug Product OMS302
    Delivered Intracamerally in BSS During IOL Replacement Surgery."
  oPoster (#P011) to be presented on Saturday, November 10 from 9:00 a.m. to
    5:00 p.m. and Sunday, November 11, 2012 from 7:30 a.m. to 5:00 p.m. in
    Hall A. Steve Whitaker, M.D., Omeros' vice president, clinical development
    and chief medical officer, will attend the poster presentation on Sunday
    from 12:30 p.m. to 2:00 p.m.

About Omeros' OMS302 Program
OMS302 is Omeros' product being developed for use during intraocular lens
replacement (ILR) surgery, including cataract surgery and refractive lens
exchange. OMS302 is a proprietary combination of ketorolac, an
anti-inflammatory agent, and phenylephrine, a mydriatic (pupil dilating)
agent. FDA-approved drugs containing each of these agents have been used in
ophthalmological clinical practice for more than 15years, and both are
contained in generic, FDA-approved drugs.

ILR surgery involves replacement of the original lens of the eye with an
artificial intraocular lens. These procedures are typically performed to
replace a lens opacified by a cataract or to correct a refractive error of the
lens (i.e., refractive lens exchange). OMS302 is added to standard irrigation
solution used in ILR surgery and delivered intracamerally to maintain
intraoperative mydriasis (pupil dilation), to prevent surgically induced
miosis (pupil constriction), and to reduce postoperative pain and irritation.
Maintenance of mydriasis is critical to the safety and surgical ease of the
procedure. Intraoperative pupil constriction increases the risk of injury to
intraocular structures and can substantially prolong surgical time.

About Ophthalmological Procedures (Cataract and Other Lens Replacement
Surgery)
There are 3.6 million intraocular lens replacement procedures expected in the
U.S. this year and 15 million in developed countries, with a projected annual
growth rate of three to four percent. There are multiple commercial
opportunities within the lens replacement market, including both standard and
premium lenses. The premium market includes toric, multifocal and
accommodating lenses. Refractive lens exchange is also a growing segment of
the lens replacement market.

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 five 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 submit an NDA and MAA
for OMS302; and that it 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