Omeros Corporation Awarded $1.7 Million in Grants Under the Qualifying Therapeutic Discovery Project Program
SEATTLE, Nov. 3, 2010 /PRNewswire via COMTEX/ --
Omeros Corporation (Nasdaq: OMER), a biopharmaceutical company committed to discovering, developing and commercializing products focused on inflammation and disorders of the central nervous system, today announced that it has been awarded non-taxable grants totaling approximately $1.7 million under the Qualifying Therapeutic Discovery Project (QTDP) included in the Patient Protection and Affordable Health Care Act of 2010.
To be eligible to receive a grant award under the QTDP program, projects must show reasonable potential to result in new therapies to treat areas of unmet medical need or prevent, detect, or treat chronic or acute disease and conditions; to reduce long-term health care costs in the United States; or to significantly advance the goal of curing cancer within 30 years. Grant applications were reviewed by both the Treasury Department and the Department of Health and Human Services.
About Omeros Corporation
Omeros is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products focused on inflammation and disorders of the central nervous system. The Company's most clinically advanced product candidates are derived from its proprietary PharmacoSurgery(TM) platform designed to improve clinical outcomes of patients undergoing a wide range of surgical and medical procedures. Omeros has five ongoing clinical development programs, including four from its PharmacoSurgery(TM) platform, the most advanced of which is in a Phase 3 clinical program, and one from its Addiction program. Omeros may also have the near-term capability, through its GPCR program, to add wholly new drug targets to the market. Behind its clinical candidates and GPCR platform, Omeros is building a diverse pipeline of antibody and small-molecule preclinical programs targeting inflammation and central nervous system disorders.
SOURCE Omeros Corporation