Omeros Announces Encouraging Data from Phase 1 Clinical Trial for PDE10 Program

   Omeros Announces Encouraging Data from Phase 1 Clinical Trial for PDE10
                                   Program

-- Single-Ascending-Dose Study Results Support Continued Advancement of Phase
1 Trial--

PR Newswire

SEATTLE, Dec. 6, 2012

SEATTLE, Dec. 6, 2012 /PRNewswire/ --Omeros Corporation (NASDAQ: OMER) today
announced promising data from the single-ascending-dose (SAD) study portion of
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.

In this successful SAD study, OMS824 was well tolerated and demonstrated
linear pharmacokinetics, a long half-life consistent with once daily dosing
and good systemic exposure that, at the highest dose administered, resulted in
the expected pharmacological effects in healthy subjects. With these
encouraging data, Omeros has advanced OMS824 to the next stage of the Phase 1
clinical trial – the evaluation of multiple-dose administration of the
compound. Omeros expects complete data to be available in early 2013.

"OMS824 appears to have excellent pharmaceutical properties, and we look
forward to completing this Phase 1 clinical trial and starting studies in
schizophrenia patients," said Gregory A. Demopulos, M.D., chairman and chief
executive officer of Omeros. "While preparing for the next set of OMS824
studies, our pipeline continues to advance toward additional near-term
milestones – Phase 3 data for OMS103HP this month, an NDA submission next
quarter and, for as many as three additional programs, entry into 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 the remaining
data from its Phase 1 clinical trial evaluating OMS824; that it will announce
Phase 3 data from its OMS103HP program this month; that it will submit an NDA
next quarter for OMS302; that as many as three additional programs will 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 November 9,
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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