Omeros Adds Discovery Technology

11/23/10

Omeros (NASDAQ: OMER), the Seattle-based biotech company, said today it has completed its acquisition of drug discovery technology from Toronto-based Patobios. The assay technology from Patobios is supposed to help Omeros design new drugs against targets known as G-protein coupled receptors. The GPCR program is thought to be promising because many of the world’s top pharmaceuticals are currently aimed at GPCRs, and there are still an estimated 120 of these targets that are inaccessible by drugs today. Omeros raised $25 million last month from Paul Allen’s Vulcan Capital and the Washington Life Sciences Discovery Fund to support this scientific work.

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