Omeros obtains exclusive license to compounds from Asubio Pharma for use in its PDE7 program

Omeros Corporation (Nasdaq: OMER) today announced that it has obtained an exclusive license to compounds from Asubio Pharma Co., Ltd. for use in its PDE7 program, which is focused on the treatment of movement disorders. Omeros has demonstrated a previously unknown link between phosphodiesterase-7 (PDE7) and movement disorders such as Parkinson's disease and Restless Legs Syndrome. The agreement with Asubio gives Omeros an expedited path to the clinic by providing advanced preclinical product candidates that are ready for additional toxicology studies in preparation for a Phase 1 clinical trial.

"We are pleased to have accessed these PDE7 inhibitors. Omeros has already conducted successful preclinical studies with them, and has identified which in-licensed candidate we plan to move forward into clinical trials," stated Gregory Demopulos, M.D., chairman and chief executive officer of Omeros. "We expect that our first clinical program will target Parkinson's disease and, assuming continued preclinical progress, that we will be able to file an investigational new drug (IND) application to begin a Phase 1 clinical trial in 2011."  

Under the agreement, Omeros is responsible for clinical and commercial milestone payments to Asubio. Omeros would also pay a single-digit royalty to Asubio upon potential sale of the products named in the agreement.