Omeros sells Omidria to Rayner Surgical for $ 1 billion


SEATTLE – Omeros Corp. completed the sale of Omidria, a drug for use in eye surgery, to Rayner Surgical Group Inc.

Seattle-based Omeros (Nasdaq: OMER) received approximately $ 126 million in cash at closing. In addition, Omeros retains the full amount of unpaid accounts receivable at closing. He is also eligible to receive $ 200 million in trade milestone payments.

With royalties payable by Rayner to Omeros on Omidria’s net sales, the transaction is valued at over $ 1 billion.

Omidria (Phenylephrine and Ketorolac 1.0% / 0.3% Intraocular Solution) is an FDA approved product marketed in the United States for use during cataract surgery or intraocular lens replacement . It maintains pupil size by preventing intraoperative miosis (constriction of the pupil) and reducing postoperative eye pain. It is the only product containing NSAIDs approved by the FDA for intraocular use.

Omidria will become a key product in Rayner’s ophthalmology franchise, which includes intraocular lenses, viscoelastic ophthalmic devices and dry eye treatments, according to a press release. As part of the deal, Rayner acquired Omidria’s business organization, including its sales force. UK-based Rayner plans to expand sales force inside and outside the US


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