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Omeros Appoints New Vice President of Clinical Development

Seattle, WA - August 5, 2009 - Omeros Corporation today announced the appointment of Stephen R. Murray, M.D., Ph.D. as Vice President of Clinical Development. Dr. Murray will oversee clinical trial strategies and protocols at Omeros, and currently is leading the ongoing clinical studies for Omeros' PharmacoSurgery‚ĄĘ product candidates. These include OMS103HP, the Company's lead candidate being evaluated in a Phase 3 clinical program for improved joint function and pain reduction following arthroscopic surgery, OMS302 in a Phase 2 program for use in cataract surgery, and OMS201 in a Phase 1/2 program for use in uroendoscopy.

"Dr. Murray brings a wealth of experience in the pharmaceutical industry, having successfully directed a number of development programs in both large and small pharmaceutical companies," said Gregory A. Demopulos, M.D., Chairman & CEO of Omeros. "Dr. Murray will work closely with our team members to continue building the long-term value of Omeros and our products."

"Omeros is poised to deliver important new treatments to patients through its PharmacoSurgery platform," said Dr. Murray. "In addition, we have several preclinical central nervous system and inflammation programs that have the potential to address significant unmet medical needs. This is an important time for Omeros and I'm excited to play a role here."

Prior to Omeros, Dr. Murray served in various positions, most recently as Chief Medical Officer at Memory Pharmaceuticals, a biopharmaceutical company that developed treatments for central nervous system disorders and was acquired by Hoffman-La Roche Inc. in January 2009. Before that, Dr. Murray held various positions at Pfizer Global Pharmaceuticals, including senior medical director and therapeutic team leader for schizophrenia. Dr. Murray received his M.D. and Ph.D. in molecular and cellular biology from the Medical University of South Carolina and completed his training in psychiatry at the University of California-San Francisco. He is replacing Paul Strauss, M.D., who will continue to work with the Company on a consulting basis.

About Omeros Corporation

Omeros Corporation is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products focused on inflammation and disorders of the central nervous system. Omeros' most clinically advanced product candidates are derived from its proprietary PharmacoSurgeryTM platform designed to improve clinical outcomes of patients undergoing arthroscopic, ophthalmological, urological and other surgical and medical procedures. Omeros has four ongoing PharmacoSurgeryTM clinical development programs, and its lead product candidate, OMS103HP, is being evaluated in Phase 3 clinical trials for use during arthroscopic surgery to improve postoperative joint function and reduce postoperative pain. Omeros is also building a diverse pipeline of preclinical programs targeting inflammation and central nervous system disorders. For more information on Omeros, visit the Company's Web site at www.omeros.com.

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Contact:

Susan Neath
Investor & Media Relations
Burns McClellan
212-213-0006
sneath@burnsmc.com